When undertaking a major unit title redevelopment, you must first obtain the consent of all owners materially affected by the redevelopment. Then pass a special resolution (designated resolution) agreeing to the new unit plan (section 68(3) of the Unit Titles Act 2010 (“UTA”)).
Insider knowledge: Christine Cechova looks at three consistent themes which seem to make the cross-lease conversions we have completed easier.
Clients are loaning their parents cash. These loans are being secured in one of two ways. A mortgage over the parents’ family home, with repayment expected upon the death of both parents. Or children are being sold a portion of the family home in consideration.
The Residential Tenancies Amendment Bill (No 2) is currently before Parliament. Christine Cechova looks at the amendments and considers the potential effects on tenants and landlords. The rental landscape as we know it is shifting.
A raft of reforms to the Residential Tenancies Act 1986 have been put into place in the past two years. Landlords can be forgiven for being confused as to what exactly is fact and what is fiction. What has come into force and what is still being debated? This is the first in a series of blogs discussing these reforms. Christine Cechova makes things clearer, starting with two changes that are already in force:
Are you considering investing in property with friends? In today’s escalating property market it is becoming more common. Good legal advice can help you manage the risk.