The process of resolving a dispute between two parties through the court system is known as civil litigation. It can occur when one party wants to sue another over things like unpaid debts, the breach of a contract, negligence, and a whole host of other circumstances.
Ideally, you want to make the process of civil litigation the last resort if possible, as it can be drawn out and costly. Therefore, is civil litigation entirely necessary to resolve a dispute? Are there other options open to both parties to more amicably come to a satisfactory agreement or solution?
Try Negotiating An Out of Court Resolution of Court Settlement before commencing civil litigation
Often times agreements can be reached outside of the court processes. This can be a lot less stressful, as well as easier on the wallet.
In the case of a debt that is owed, for example, perhaps a payment plan to chip away at the debt can be agreed upon.
When is Civil Litigation Required?
In the case of breach of contract, perhaps amendments to the contract can be negotiated to find a satisfactory resolution for both parties without the need to ever see the inside of a courtroom.
Whether you decide to proceed with civil litigation or not, you’ll need legal representation; a lawyer who is an expert in litigation cases. Your lawyer can also help you come to an agreement with the opposing party, and quite possibly negotiate a deal that doesn’t involve having to take the matter to court.
In Brisbane speak with your civil and commercial litigation experts at Aylward Game Solicitors to try and negotiate an out-of-court resolution and settlement. Even if you just need some helpful advice to know what your rights are and where you stand, we are the team to call. Take some of the stress out of the situation and make arrangements to meet with one of our experts today. It’s well worth it for your peace of mind.
The Department of Home Affairs has recently updated the Priority Migration Skilled Occupation List (PMSOL). In this article, we elaborate as to how this may affect you if you have not lodged your Skilled visa application yet.
What are New?
The Department has added 22 new occupations to the Priority Migration Skilled Occupation List (PMSOL). Those offshore applicants who have Australian businesses willing to sponsor can now apply and upon approval, seek to enter Australia. However, that does not mean the applicants can quickly get any visa. They are still subject to the usual Department’s process with the exception that they will be given priority in having their applications assessed and further will be subject to quarantine arrangements at their own expense.
The PMSOL also includes Medical Laboratory Scientist, Multimedia Specialist, Software and Applications Programmers as well as Chef.
What are the other Affected Occupations?
The Department in line with its policy to support Australia’s tourism and hospitality sector has provided more flexibility during the COVID-19 Pandemic period. For instance, the Government will remove the existing work hour caps for Student Visa holders employed in the tourism and hospitality sector. Previously, a 40-hour fortnightly limit applied during study periods.
Other changes include, temporary visa holders will be able to access the 408 COVID-19 Pandemic Event Visa for a period of 12 months if they work in the tourism and hospitality sector. They will be able to apply for the 408 COVID-19 Visa up to 90 days before their existing visa expires and then remain in Australia for up to 12 additional months.
Travel Exemptions
The Commissioner of the Australian Border Force may grant an individual exemption if the individual is a non-citizen and is found eligible to meet the criteria in either of the following circumstances:
Traveling at the invitation of the Australian Government or a state or territory government authority for the purpose of assisting in the COVID-19 response.
Providing critical or specialist medical services, including air ambulance, medical evacuations, and delivering critical medical supplies.
With critical skills required to maintain the supply of essential goods and services (such as in medical technology, critical infrastructure, telecommunications, engineering and mining, supply chain logistics, aged care, agriculture, primary industry, food production, and maritime industry).
Delivering services in sectors critical to Australia’s economic recovery (such as financial technology, large-scale manufacturing, film, media, and television production, and emerging technology), where no Australian worker is available.
Providing critical skills in religious or theology fields.
Sponsored by an employer to work in Australia in an occupation on the PM SOL.
Whose entry otherwise be in Australia’s national interest, supported by the Australian Government or a state or territory government authority.
Aylward Game Solicitors, Brisbane Lawyers, keeping you ahead of the Game with offices now in Brisbane, Gold Coast & Sunshine Coast.
Settlement of family law issues after separation deals with the most basic and raw emotions. Putting one’s life and that of your family into documents and letters is a process that can make a person feel empty and emotional.
Divorce Property Settlement Brisbane and Child Custody are often at the front of mind for those facing separation or divorce.
Collaborative practice is one way in which separated parties can resolve issues quite quickly. The first meeting can be a little uneasy but once the process is explained to everyone and being able to talk things out and express your points of view with your collaborative practitioner makes the process much easier. Collaborative practice allows parties to talk without just being a person on a page of a document. Professionals such as counselors and accountants can also be included who can assist in working through issues and help reach a resolution. In a collaborative practice meeting if you feel you are unable or uneasy about putting your point of view across then your collaborative lawyer will help you and be by your side every step of the way.
Today’s world of electronic communication can be impersonal and dealing with issues that affect you and your family’s future in this way is not always the best way for resolution. It is always easy to criticise and argue when it’s written on a page or screen. Dealing face to face can be difficult but usually brings out the truth and helps people realise the consequences of their actions. Collaborative practice is a very good way to finalise financial and children’s issues after a breakup in your relationship.
To find out more about the collaborative practice and Divorce Property Settlement Brisbane please call 1800 217 217
DIY will kits are becoming increasingly more popular and many are available for purchase online. Having a will is important on many levels, particularly if you have a sizeable estate, and even people with not much in the way of material possessions and money should still have some sort of will.
Do Your Own Will? Hire an Attorney?
But should you attempt to transcribe your own will just to try and save some money, or is that a task best left to a professional; hire a solicitor or hire an Attorney who specializes in wills and estates?
A DIY will kit can be handy in the sense that it’ll give you an idea of the types of things to include in your will, but it’s still highly advisable to have a trained professional prepare the will and distribute your estate.
Below are just a few reasons why DIY will preparation is not in your best interests.
The Cons of DIY Will Kits
DIY wills can often be unclear and ambiguous. They can even be misinterpreted and therefore left open to challenge by those in disagreement with the will.
Generally, when one prepares their own will, they are doing so to avoid involving a law firm. Therefore, they appoint a friend or family member as the executor of the will. Unfortunately, this person with their newfound responsibility likely doesn’t have the knowledge, experience or expertise to act as an effective executor, and therefore struggles to adequately fulfill the obligations bestowed upon them.
There is also the chance the executor has a conflict of interest, such as a business partner of the deceased.
Engaging a lawyer to advise and represent you if you find yourself in the unfortunate situation of family breakdown, and needing advice and assistance to navigate that process, is not something that most of us would want to have to do. It is however a reality that will confront a significant number of us at some point in our lives.
Is it important to hire an Aggressive Lawyer?
When we speak to people in that situation as they are at the start of the process and trying to get to grips with what is happening, we often hear people ask if we are “bulldogs” and whether we will be “aggressive”.
Whilst we can be those things if the client really wants it, or if the situation really requires it, we will always ask if that is really what you need? Most people only experience an engagement with the family law system once or perhaps twice in their lives. For us, it’s what we do every day. We have seen the process from beginning to end many many times.
Sometimes, individuals indicate that they want an aggressive family lawyer to represent them in their case. So we will usually respond by asking if an aggressive, bulldog approach is what will get you the best outcome? If it is not what you really need, the aggressive approach may mean that the time that you spend in the system is longer than it might need to be, that the emotional pain that you suffer is more intense than it needs to be, and the costs that you incur are much higher than they need to be.
What you actually need
We also often hear that the only winners in the family law system are the lawyers. We prefer to think that because we are committed to giving our clients the advice that they need to hear, rather than the advice that they want to hear, that our clients are getting value for money.
For an honest opinion about your family law situation that balances the emotional and financial costs, the time that the process may take with a realistic and practical appraisal of what is achievable, speak to one of our experienced family law team at Brisbane, Gold Coast and Sunshine Coast Office.
With Christmas approaching, many people may be considering giving as a gift a DNA ancestry kit for family DNA profiling. These are interesting ways of undertaking research into your family history and finding out the background of where your ancestors might have come from.
This is often used in association with various websites, where the results of the DNA testing can be uploaded to help trace other family members and complete missing links in the family tree.
Crime Scenes & Fake Profiles
However, this is not the only development in DNA science. In April of 2018 police in the United States managed to make an arrest in relation to a series of murders that were committed in California during the 1970s and 1980s. The Police in California used a sample from one of the crime scenes and using a fake profile uploaded the DNA result to an open-access genealogy website. This led them to the lead they needed.
Familial DNA profiling
This process requires the use of complex and sophisticated DNA testing and profiling, known as familial DNA profiling or family DNA profiling.
Family DNA profiling (also called DNA fingerprinting) is the process of determining an individual’s DNA characteristics, which are as unique as fingerprints. DNA analysis intended to identify a species, rather than an individual, is called DNA barcoding.
DNA profilings are a forensic technique in criminal investigations, comparing criminal suspects’ profiles to DNA evidence so as to assess the likelihood of their involvement in the crime. It is also used in parentage testing, to establish immigration eligibility, and in genealogical and medical research. DNA profiling has also been used in the study of animal and plant populations in the fields of zoology, botany, and agriculture. (see Wikipedia for more information)
The case in the USA is not the only one that has used these processes. In 2002 in the UK Police re-examined the evidence from a murder committed in South Wales in 1988, and using the family DNA profiling process they were able to identify the killer. The widespread availability of genealogy websites allows the police to search for a wider database for matches. In September 2018 it was announced that familial DNA profiling has been introduced in Australia by the National Criminal Investigation DNA Database.
So if you upload your DNA test results in searching for links in your family tree, you may help the Police to find out more than you had ever expected.
For more information, please contact your local Brisbane Lawyer at Aylward Game Solicitors on 1800 217 217 or book an appointment on our website.
In simple terms, a power of attorney is a legal document where a person is nominated to act on your behalf (known as the agent) regarding your affairs. The document gives the nominated party the legal capacity to make decisions for you on things like financial matters and other duties.
The person given attorney does not have to be a lawyer, although in many cases a law firm is enlisted to act as power of attorney.
Some common tasks of those entrusted with power of attorney can include, but are not limited to:
The tasks involved will depend on particular circumstances and what the principal (the person delegating the power of lawyer) requires and stipulates.
When Might You Need To Delegate Power of Attorney?
Many people only assume power of attorney is entrusted to someone when the principal no longer possesses the mental capacity to make sound decisions, such as in the case of someone with Alzheimer’s or suffering an incapacitating illness or injury.
While this is often the case, the are other scenarios where you may need to consider giving someone you trust the power of Solicitor, even on a temporary basis.
One such instance is when you might be required to spend a significant amount of time overseas and find it too difficult to handle all your affairs back home from abroad.
If you, the principal, lose your capacity to make decisions, then the power of attorney you delegated will cease.
Will and Estate Planning Brisbane
When it comes to preparing wills, estate planning and matters regarding the power of a lawyer, your local and highly experienced law firm in Brisbane is Aylward Game Solicitors. If you need advice regarding the delegation of power of solicitors to someone you trust, then think of us first.
Whether you want to start a business or are already operating one, having a Brisbane law firm you can count on could prove to be your business’s best friend. It doesn’t matter whether you’re a sole trader, a partnership or a company, every business has legalities to deal with and will often require advice and mediation from a business law specialist.
Without a Plan You Plan To Fail
We’re not talking about a regular business plan here, although you should definitely have that in place as well, but rather the legal side of the business and helping to establish your business entity.
Your Brisbane legal advisor can help you get started, as well as plan for your success and avoid the many common legal pitfalls that can ultimately bring a new or established business undone.
Also, things can become increasingly more complicated when your business expands and you need to hire employees, or even change your business structure. Obtaining capital to finance the expansion of your business is also vital to success and it’s wise to consult your business lawyers when planning any major changes. This way you can be assured of doing everything correctly and on the right side of the law.
Businesses vary, as do business owners, so you need to engage with a law firm that not only specializes in business law but are also flexible in their approach and understanding of the different needs and requirements of their clients.
Give Yourself Peace of Mind
Starting or running a business can be hard enough without having to try and navigate your way through all the legal requirements associated with it. That’s why it’s best to take that load off your mind and delegate it to professionals, leaving you free to do what you do best – Focus on running and growing your business.
If you try to be a master of everything and do everything yourself, you’ll simply burn out and risk losing your business altogether, and that’s not a result anybody wants.
Aylward Game Solicitors – Your Business Law Experts – Business Lawyers
Whether you are planning to start a business or company, looking to franchise, need contracts drawn up, need a lease negotiated, commercial litigation or a whole host of other business-related legal services,
you can count on the business law professionals at Aylward Game Solicitors in Brisbane, Gold Coast and Sunshine Coast. So get in touch today. Find a business lawyers near me.
While the property is traditionally purchased by taking out a mortgage with a bank, you can also use vendor finance to skip the bank application process and secure your next property. Often referred to as “seller finance”, vendor finance is an alternative way to achieve homeownership without having to take out a mortgage with a traditional lender. Vendor finance also refers to ways in which you can start owning and paying off your home even if you have poor credit or employment history or you’re unable to qualify for a traditional home loan for any other reason.
Vendor Finance is finance offered by a seller (a Vendor) to finance the sale of goods, services, or real estate to a buyer (a Purchaser). Most commonly, sellers offer “terms” to Purchasers to pay “some now, some later”. The “some now” is a deposit, the “some later” is an arrangement to pay the balance price of the price by installments.
The Power of Vendor Finance
Found a property you want to buy but don’t have enough money (or sufficient credit history) to finance it? There might be a way around it with the use of clever contract clauses.
With all the legal jargon and peppering of real estate contracts these days, real estate agents and investors are becoming more hesitant about the use of special conditions in real estate contracts with relation to vendor finance arrangements.
Almost every business engagement in Australia involves a financial transaction facilitated by either a bank or a financial institution that provides consumer credit services. For instance, e-commerce businesses entirely base their transactions on e-payments that originate from banks. In spite of this, you can still complete certain transactions such as buying property without necessarily going through a financial institution. Let’s have a look at vendor finance in real estate transactions in Australia.
Definition
According to the Consumer Action Law Centre, a seller terms contract is a legal way of selling the property without the involvement of a third-party financier. In this arrangement, the property seller funds the entire property transaction while the property buyer agrees to make regular payments to the seller over a given period. These installments may or may not attract interest. In some cases, the buyer is required to make a small deposit to the seller although this is not mandatory and the entire transaction does not involve mortgage arrangements. Property ownership passes from the seller to the buyer once the buyer completes all payments. As such, no financial institution is directly involved in these types of contracts, an aspect that has made such contracts increasingly common in the Australian real estate market.
Legal Backing
The legal backing for these seller-backed contracts varies across Australia. For starters, the Sale of Land Act 1962 has legal provisions governing so-called seller terms contracts in Victoria. In fact, the Consumer Action Law Center says that Victoria’s Sale of Land Act is the most comprehensive compared to similar legal frameworks enacted by authorities in other states and territories. For example, section 7(1) of this act expressly prohibits the mortgaging of land or property that is subject to a terms contract. This means anyone entering into a mortgage-based transaction tied to such a property would be committing a criminal offense. Other regulations governing these contracts in Victoria include the Fair Trading Act (1999) and the Duties Act (2000).
The Law of Property Act 2000 governs seller terms contracts in Australia’s Northern Territory while the Sale of Land Act 1970 governs the sale of land under similar contracts in Western Australia. In Queensland, these contracts are subject to the Property Law Act 1974.Some sections in this legal framework are subject to other legislative pieces such as the Land Title Act 1994 (Qld) and the Property Law Act. Seller terms contracts in New South Wales (NSW) are subject to the Land Sales Act 1964. Currently, there are legal frameworks governing similar contracts in Tasmania and ACT. This means you should hire a lawyer with in-depth knowledge of these legal frameworks if you intend to seek legal redress to resolve a transactional issue.
The Benefits of Seller Terms Contracts
For starters, seller term contracts are attractive to consumers who are unable to access property mortgages from traditional financial institutions. This includes consumers with poor credit history, those without steady jobs, those without enough money to make mortgage down payments, as well as those with unresolved credit report issues. Mainstream lenders generally classify such consumers as high-risk borrowers and therefore tend to exclude them from a wide range of financial services.
Secondly, term contracts are also beneficial to property investors because they allow investors to minimise their initial investments while maximising their real estate footprint. In fact, savvy investors can use this strategy to find great property deals in towns and neighborhoods that are shunned by traditional financiers. Due to their nature (mostly involve the property seller and buyer), these contracts are particularly suited for property buyers looking for highly flexible payment terms. In other words, a term contract grants a buyer an opportunity to negotiate a bespoke payment plan.
A term contract would also be useful if you are planning to carry out major renovations on the property you are buying. This is because the minimal or no initial deposit will allow you to use the available financial resources to hire contractors (building, electrical, plumbing) and purchase the relevant building materials. What’s more, you may also have to acquire a renovation permit depending on the local building regulations. All these engagements require money that could run into thousands of dollars depending on the scale of the renovation project, building permit fees, and the applicable contractor fees.
When buying or selling a commercial property, seller terms contracts may be a better financing option for several reasons. To start with, the Financial System Inquiry Final Report published in 2014 found that small businesses and startups generally face higher financing costs compared to large and well-established businesses.
In addition, a survey carried out by Deloitte Access Economics found that a staggering 200,000 or 10% of all Australian SMEs face significant difficulties in accessing funding from mainstream lenders. As such, some SMEs are unable to expand or have no option but to forego potentially lucrative business opportunities. This state of affairs forces financially disadvantaged entrepreneurs to turn to fund solutions that are typically more expensive compared to those offered by mainstream financial institutions. Sadly, this can suck a business into an inescapable cycle of debt that could easily lead to insolvency. Luckily, SMEs can use term contracts to acquire business assets such as warehouses and turnkey factories.
If you do not want to deal with the paperwork or the endless back-and-forth associated with the mortgage application process, consider entering into a terms contract with the seller.
The mortgage application process alone involves several steps including conditional approval, formal/full approval, property valuation, contract negotiation and preparation, a perusal of mortgage documents, contract signing, and loan settlement. All these steps could take anywhere from four weeks to several months depending on the asking price and the availability of down payment funds. In comparison, seller term contracts are not mortgage-based, meaning that you can close a property buying deal much faster. This transactional flexibility makes it easy for property investors to invest and divest at the right time.
Drawbacks
In spite of their benefits, certain aspects of seller terms contracts can be disadvantageous to real estate buyers.
Firstly, buyers/sellers in territories and states where the existing legal framework is not as comprehensive as that in Victoria may face difficulties enforcing these contracts. For example, according to the Consumer Action Law Center, seller terms contracts in New South Wales only apply to property transactions that are within a subdivision of five or more lots. This means you may be unable to claim your property title from an unscrupulous seller who is intent on using legal loopholes to defraud unsuspecting consumers. To avoid such a scenario, it is advisable to hire a competent real estate lawyer and make sure that he/she evaluates all contract documents before appending your signature.
What’s more, without a sound legal framework, you may not have any legal right to the property you are making monthly/periodical payments to purchase, which means you would be more of a tenant rather than a property owner. Unfortunately, an investigation by the CALC found that the legal protection available to buyers is lax because seller terms contracts are not subject to the Residential Tenancies Act 1997. This drawback has led to calls in some states and territories for the enactment of new regulations that specifically address ownership issues surrounding these types of contracts. Besides this, property buyers are normally responsible for regular maintenance costs including repairs and local land rates. Such costs can saddle you with an unexpected financial burden if you were unaware of these expenses at the time of signing the purchase contract. It is also worth noting that sellers who egg on potential buyers to commit themselves to promises of early refinancing may not be entirely truthful.
Research carried out by the Consumer Action Law Center found that median house prices in many Australian suburbs had surprisingly fallen or remained steady since the 1990s. As such, equity in a property purchased through this type of arrangement may be minimal or amount to nothing if you opt for refinancing several years down the line.
To avoid getting into an unfavorable deal, you should carry out thorough and comprehensive property research that covers all bases including historical prices and local zoning laws. It is important to note that a property may be subject to state, territory, or both state and territorial zoning laws. At the same time, the interpretation of zoning regulations generally varies from one territory to the next meaning aspiring real estate buyers require sound legal advice.
Vendor Finance Property
Misrepresentation in Terms
According to the Consumer Action Law Centre, term contracts are prone to misrepresentations that usually emerge after buyers have already signed the purchase contracts. Most of these misrepresentations revolve around the condition of the property as well as contractual terms and conditions. Resolving such issues, even in court, is not always easy because the aggrieved party has the burden of proving that the misrepresentations were intentional, not accidental. Moreover, filing a case in court translates to additional expenses that the buyer has to shoulder. The CALC warns that property buyers without prior experience in “terms contracts” are especially vulnerable to these misrepresentations. The same is true for people facing financial difficulties because they are unlikely to seek legal redress due to a lack of money.
Some sellers charge interest rates that are higher than the rates charged by mainstream lenders. This is largely because they know that most of the buyers who opt for these types of contracts have no other viable way of acquiring property. For instance, when advertising their properties, some sellers use vague terms such as “buyer to pay interest at a rate that is two percentage points higher than the annual rate paid by the seller.” Since this description does not even indicate the seller’s annual percentage rate, potential buyers are unable to determine how much they can expect to pay per month accurately. Another risk related to this type of transaction is the risk of property repossession by the underlying mortgage lender. Remember some sellers are likely to be paying off mortgages meaning lenders could repossess their properties if they default on mortgage repayments.
Background Research
Extracting yourself from this legal mess could take years and drain your financial resources because banks have the financial muscle to pursue legal action for years. To avoid these inconveniences, carry out background research on prospective sellers to ensure you are not entering into a fraudulent transaction. Better yet, hire an investigator, preferably one with a background in law enforcement, to perform this task on your behalf. Although hiring such an expert may seem expensive, you will be able to avoid sellers who could plunge you into costly and disastrous legal problems in the future.
Overvaluation is another common problem faced by buyers of property under seller terms contract. In some cases, the overvaluation can be as high as 25 to 50% of the average price of similar properties in the same neighborhood, the CALC reports. This practice is especially common in neighborhoods where property values are low. More worryingly, the CALC says overvalued properties in low-income suburbs tend to be poorly maintained. This is in addition to having minimal visual appeal. Nevertheless, sellers inflate the asking price partly due to the demand fuelled by consumers who cannot purchase property through traditional lenders. Purchasing a property that fits this description is not financially wise because you are likely to end up spending more money on extensive renovations. You could also be ordered by the local authorities to tear down your newly acquired home and rebuild it from the ground up (if it is declared unsafe for human habitation by building inspectors). If you cannot afford a house in a better condition, look elsewhere or save money with the aim of buying a house in the near future.
Aspiring first-time property buyers are often prone to over-committing themselves to payment plans and financial agreements that they cannot honor. This is due to several reasons. For starters, some consumers wrongly assume that institutions such as banks are purely evil or uncaring when they refuse to lend them money. However, they fail to recognise that banks hire extremely smart people who are well versed in money management and risk factors associated with financial delinquency. Moreover, the ANZ Survey of Adult Financial Literacy in Australia published in May 2015 found that more than 55% of respondents did not regularly use sources such as newspapers, radio, government publications, www.aylwardgame.com.au 6 magazines TV, and the Internet to educate themselves about financial issues.
What’s more, only 48% of adults surveyed would trust financial experts and follow their recommendations. Surprisingly, women scored worse than men in terms of financial knowledge and access to financial education/information. This is worrying because uninformed consumers are likely to overestimate their financial literacy and plunge themselves into financial difficulties later. In general, you should trim down non-essential purchases and avoid additional debt if your financial situation is shaky. At the same time, strive to improve your financial literacy and keep abreast of developments in the financial sector.
Seller Terms Contract Features
Even if you have retained a lawyer, it is wise to scrutinise the purchase contract carefully. While doing this, pay special attention to the fine print because unscrupulous sellers usually hide unfavorable terms/conditions and legalese in this section. Make sure that legal terms denoting each party in the transaction such as “buyer”, “purchaser”, “seller”, and “property owner” are clearly defined and legally correct. This is important because such terms are usually substituted for the names of the buyer and seller using wordings such as “the seller is hereby known as” meaning any legal ambiguities could lead to ownership issues later. The sale contract should also state clearly the purchase price and provide details on the payment plan agreed by both parties. This includes interest terms, repayment period, number of installments, legal fees (if applicable), intervals between payments, deposit/down payment (if any), and penalties for late payments. Agree on a system/formula for confirming payments to avoid accusations of defaulting when you have faithfully upheld your part of the bargain. Make sure this agreement is included in the purchase contract.
Clarify each tiny detail including the nature of payments (cash, bank deposit) to avoid misunderstandings. Some experienced buyers even manage to negotiate for a percentage of the purchase price to be refunded in the event they default on payments. Another key financial issue is the party responsible for taxes or land rates. A good example is stamp duty, which varies depending on territory and property value. Luckily, all Australian states offer some form of stamp duty concession to first-time property buyers provided they satisfy the eligibility criteria. Regulatory authorities in some states are campaigning for the abolishment of property duties because they constitute an additional financial burden that first-time homebuyers must bear. If you have doubts about tax-related issues, consult a financial and tax planning expert. This notwithstanding, stamp duty is payable on the full purchase price only after completion of all outstanding payments. On top of this, the sale document must address when, where, and how property ownership will pass from the seller to the buyer. Insist on the addition of a clause defining the order of events in the case of an unforeseen contractual issue such as defaulting on payments due to ill health or salary delays by your employer. Doing so takes care of potential succession/inheritance issues that could arise in the event a seller or buyer dies before the stipulated contract period elapses. While these issues may seem trivial, they can save you a lot of headaches and thousands of dollars. The only downside to taking these precautions is you may have to hire a number of experts including financial, tax, and estate planning experts.
In recent years, a new feature called “Mortgage-Backed Finance” has become increasingly popular. As such, you should consider making it part of the purchase agreement. Mortgage-Backed Finance refers to www.aylwardgame.com.au 7 to financing whereby the vendor/seller agrees to lend back to the seller part of the purchase price by transferring the property to the buyer in return for a payout style financial arrangement. However, proceed carefully before agreeing to such an arrangement because the mortgage documents will have to include a Credit Code Disclosure Statement and comply with the National Credit Code*(need help). In this case, the buyer would be required to meet the eligibility criteria applicable to all mortgage applicants. As such, always seek expert advice and avoid making on-the-spur-of-the-moment decisions when property sellers dangle attractive financial propositions in your face.
Finally, make sure the sale document includes details on all the household furniture and appliances that are part of the deal. Do not assume that you will get any of these items automatically because the seller may have arranged to sell them independently. If they are part of the sale agreement, find out the modalities used to value them, or else you will end up with expensive junk.
Conclusion
Consumers in Australia who are unable to purchase property with funding from banks should consider doing so via seller terms contract. This type of arrangement offers a lot of flexibility to buyers because they can negotiate repayment plans that suit their financial health. It also gives property investors a lot of financial and operational freedom. Of course, you should consult a legal expert before getting into such a contract.
Elton John and his partner David may not be considered the parents of their children in Australia.
Under the provisions of the Family Law Act parents are responsible for the care, welfare, and development of their children. The parents may be married or living in a de facto relationship. In both instances, the children of that relationship are recognized as the children of their parents. This extends to a lesbian couple living in a de facto relationship. The mother of a child in a lesbian de facto relationship is the parent of that child if the child was conceived by artificial insemination. The partner of the mother would also be considered a parent of the child under the provisions of the Family Law Act. The child is of course the child of the mother who gave birth to the child.
Gay and Lesbian De Facto Couples and Parenting
This does not extend to males in a gay de facto relationship even if one of the males donated sperm for the conception of the child. The biological mother and if in a relationship with her partner are deemed to be the child’s parents even if it is the intention of the biological mother and the gay male father that the child born will be living with the father of the child and his gay partner. It will be necessary for the gay male partners to legally adopt the child or apply to the Family Court for parenting orders of the child. The process of adopting a child is subject to the review of the relevant State department. Alternatively, an application may be made to the Family Court for the formal parenting of a child by a gay male couple. The normal considerations for parenting of that child will be made by the Court.
If a gay male couple raised a child without seeking formal parenting orders in relation to the child and if the relationship breaks down then either partner may apply to the Court for parenting orders on the basis he has been a significant person in that child’s life.
It may be prudent for lesbian and gay male couples to formalise the parenting of any child raised by them by seeking appropriate parenting orders in the Family Court.
In 2002 there were amendments to the Family Law Act which allowed superannuation to be treated as property. The Court was empowered to make Orders splitting superannuation entitlements, transferring entitlements from one party to the other. Of course, the splitting of a person’s superannuation entitlement and a transfer of that entitlement does not mean that the person receiving the benefit of that entitlement could immediately draw down on the interest received. The normal provisions for drawing down on superannuation would. Under the legislation, if a splitting Order was made then one person would obtain an interest in the other person’s superannuation fund. A party could retain that interest in the fund or roll it out into a fund of their own choosing.
Prior to 2002 and the reason why this legislation was introduced into the Family Law Act was that in many cases married couples have had small property interests but large superannuation entitlements. At this time, the Family Law Act only applied to married couples. For instance, a person’s employment may have entitled that person to the benefit of a large superannuation fund such as airline pilots. As well parties to a marriage may have salaries sacrificed their income into their superannuation fund thereby creating a large superannuation interest. The remaining assets may have been meager. The Family Court prior to 2002 did not have the power to deal with superannuation which meant that one party would walk away with a large suppuration interest and the other party would only have a small interest in the remaining assets of the marriage. If a party was retiring in the near future then the Court had powers to prevent a party from dealing with their superannuation entitlements and when that party retired, the Court could then make Orders for monies to be drawn down from the superannuation fund and paid to the other party. This created difficulties in enforcing such Orders. For these reasons, the Family Law Act was amended to enable the splitting of married couple’s superannuation funds.
The legislation was further changed in 2009 which enabled de-facto couples and same-sex couples to have the same rights as a married couple under the Family Law Act. This allowed them to also have the benefit of the change in legislation enabling the splitting of their superannuation funds.
The Recent Federal Budget Made Changes
The recent federal budget made substantial amendments to superannuation which greatly affect separating parties. What is even more alarming, is that this legislation affects divorcing couples who suffer emotionally and financially when there is a breakup in their relationship. The legislation of the Government makes this far worse.
The Federal budget has made substantial difficulties with changes to its superannuation policies. Pursuant to such changes the maximum amount a person can put into a superannuation (non-concessional contributions – after-tax dollars) is $500,000.00 per member of a fund and pursuant to the legislation this is a lifetime limit that becomes effective from the budget night of 03 May 2016.
Prior to the changes being made a person’s limit was $540,000.00 every three (3) years (if that person was under 65 years of age) or $180,000.00 per year. Many people took advantage of the legislation as it then was to contribute $540,000.00 every three (3) years is the maximum allowed at that time. If such contributions were made then the entitlements of that person now exceed the newly introduced lifetime cap. If the total amount paid into super exceeded the $500,000.00 after the date of the budget then that person is now required to draw down the excess paid into superannuation cannot contribute any more non-concessional contributions to his/her fund. There would no penalty in drawing down the amount required. Once the limit of $500,000.00 has been paid into a superannuation fund, then no further non-concessional contributions can be made.
Further, the limit on the allowable before-tax concessional contributions is to be reduced from $30,000.00 to $25,000.00 per year from July 2017.
Because the Family Law legislation allows for the splitting of superannuation funds, many couples now separating may lose the ability to replace the entitlements in their fund if a splitting Order is made by the Court.
Because of the changes to the superannuation legislation, people in a relationship, after separation will find it harder to rebuild their superannuation if a splitting Order has been made on their fund.
Are there ways to protect yourself from the Superannuation Changes?
Alarm Bells are ringing – Nicole Pedersen in a cent article suggests 4 ways of minimizing the impact:
Split your pre-tax super contributions equally in marriage – the main goal may be to equalise balances so, as a family, pay in and amass as much as possible under the proposed stringent limits. Contribute as much as concessional – salary sacrifice – contributions as you can for a lower-earning spouse (from July 2017 it’s planned you’ll no longer have to do this through an employer).
Equalise your pre-tax contributions in marriage – if you and your spouse have unequal balances, you could also use the once-a-year opportunity to help even out balances by splitting concessional contributions paid into the higher balance account across to the other spouse’s super. Under the super splitting rules, you can move up to 85 percent of contributions into the other spouse’s account.
Split your post-tax contributions equally in marriage – this way, in the event of a subsequent relationship breakdown, neither spouse loses the right to make future non-concessional contributions. When making after-tax contributions progressively over time, share them between accounts. Also get freebies and tax benefits via after-tax spouse contributions (attracting up to a $540 tax rebate if, from July 2017, your spouse earns under $37,000) and a $1000 annual non-concessional contribution (to get the government’s co-contribution of up to $500 into the fund of someone earning under $50,454).
Split your super equally on divorce – possibly the only way to ensure both parties still have some capacity to rebuild their super if they have the money to do so. We’ll need to see the legislation to know if divorcees will be disadvantaged.
Families and Children look set to suffer more in Queensland than anywhere else in Australia Court.
If you are contemplating going to either the Family Court of Australia or Federal Circuit Court of Australia to settle issues relating to the breakdown of your relationship including issues surrounding who your children spend time with, you could be in for a rude shock.
It now seems certain that timeframes for your matter to be heard will increase considerably due to the movement away from the Brisbane Registry of the Family Court and to the Appeal division of such Court.
Justice Graham Bell retired last year and it was announced in late 2015 that Justice Michael Kent was promoted to the Appeal division of the Family Court. Judge Demack of the Federal Circuit Court in Brisbane has accepted a permanent posting in Rockhampton further depleting the stock of family law judges in Brisbane. This means that now there are only two judges sitting in the trial division of the Family Court in Brisbane to determine matters in the Court. Subsequently, the already overwhelming demand on the Family Court in Brisbane will be stretched further, undoubtedly pushing back hearing and trial times which already can be set down for a time more than 12 months in the future. Further to this, any judgments made by these judges post-trial may also be delayed as the judge’s workloads increase. It is already not uncommon for a judgment to be handed down more than 12 months after the trial of a matter.
As a result of this, the Federal Circuit Court of Australia (which deals with the majority and less contentious of family law disputes in Australia) will be placed under more pressure to handle its caseload as the Family Court will not be able to assist in determining as many cases. The Federal Circuit Court is already experiencing similar delays to that of the Family Court of Australia.
When you consider that this will leave Brisbane with 10 Judges in the Federal Circuit Court, two in the Family Court and two in the Appeals division of the Family Court (who only hear appeals to decisions and not cases at first instance), compared to 15 Federal Circuit Court Judges in Melbourne and 21 in Sydney (not to mention the further judicial members of the Family Courts and Appeals Courts in both other cities), it seems clear that the Brisbane families will experience long delays.
All of this could very easily mean that from the date you file your Initiating Application with the Court you may be waiting in excess of three years to have a result.
Consider what this will mean for family relationships. A father or mother who may be fighting to see their young child may not see them for all of this time. By the time the parent and child are reunited the child may have no understanding of who that person is and will have no bond with that person. On the other hand, if the child is 12-14 once proceedings commence the child may well be nearing adulthood by the time a decision has been handed down, and thus the parent and child will have lost the final years of childhood with that parent. Scary stuff indeed.
Consider also the dramatic increase in cost over this time of retaining legal representation over that time. IT will cost significant time with family members, substantial cost and untold stress on Queensland families. Suffer the little children indeed.
For a Delays in Court which holds the best interests of the children as their paramount consideration, it seems clear that something must be done to increase judicial staff in Brisbane and that is a cause we should all consider our role in supporting.
So how do we avoid these delays? Read Family Lawyer Charles Noble’s next article on Alternatives to Court and how it can save you time, money, and stress.
What a year it’s been. Winding up the practice in South Brisbane and moving to the big smoke in March this year.
2015 Family Law Review: What A Year It’s Been and to have their assistance when dealing with the complex issues which can arise in the breakup of entities, partnerships and trust and determining the best ways of restructuring such entities after a family break up. The knowledge of the lawyers in the firm has been invaluable in dealing with the complex issues which arise from time to time.
The Family Law Section of the practice now has 2 Accredited Family Law Specialists and a very experienced family solicitor who practices exclusively in Family Law Review. We also have the benefit of a very experienced Family Law in house counsel. It has been invaluable to maintain the family law matters “in house” when dealing with a matter in the Family Court. The benefits and cost savings to our clients have been appreciated.
Our family lawyer Charles experienced many successful outcomes for his clients in the Family Court. Some of his achievements were the recovery of children from Victoria who were returned to the care of their mother. He helped an African mother keep her young children when the Department of Children’s Services intervened. Her African customs in raising children differed from the parenting we experience in Australia. The mother benefited from expert advice from Charles and the Court was satisfied the children would be well cared for in the mother’s care.
We achieved successful outcomes in negotiations and collaborative matters when both parties were happy with the settlement which they themselves achieved.
We provided many 20 minute free consultations to parties affected by recent breakups in their families. These consultations helped them to deal with the many issues which arise in such circumstances. We were only too happy to give our advice and assistance to them.
I have enjoyed the various networking events with my fellow collaborative practitioners. I have re-joined the committee of Queensland collaborative law which celebrated its ten year anniversary this year. It’s incredible how collaborative practice has grown over this short period of time. A very successful celebration was held at the office of Vincent’s Accountants in the city. To me, it is one of the most satisfying ways of negotiating family law matters. Generally, we have been able to maintain a genuine working relationship between the parties who will be involved in their children’s future for many years to come. We have maintained our involvement with Brisbane South Bank (BSB) a viable business networking group for the South Bank precinct. We enjoyed their many networking events and in particular, the “showcases” held each year where we were able to network with the 50 business owners who participate. It is a fun event and provides a chance to get to know the business owners ranging from large corporations to small business owners which include, Qpac, the Art Gallery, GOMA and the Convention Centre.
I continued my Notarial work throughout the year and assisted many clients with the completion and authorisation of overseas commercial documents.
I appreciate the efforts and support given to me by the professional and administrative staff that work with me and we enjoy a very harmonious and enjoyable office relationship.
We are grateful for the support of my clients throughout the year. We look forward to providing positive and beneficial outcomes for our clients in the New Year.
We extend our best wishes for the festive season and wish everyone a prosperous and happy New Year.
The world knows all too well about how your interest rates can dramatically change from one month to the next and if you get yourself in a good position, you lock that RBA interest rate in for a few years to protect yourself from being knocked out by a rise in the RBA interest rate (RBA cash rate).
For 3 years the RBA rate remained at 1.50%, which for some was great as no rise in an otherwise ever-changing world meant that homeowners could keep their properties. For others, the cost of living was still too high to save a deposit for a house. Then in mid-2019, we saw a drop of 0.25% bringing the rate down to 1.25% which for anyone struggling to pay their mortgage meant this was a big stress relief or for some of us, helped to apply for a home loan to be more achievable.
The rate continued on this downward trend dropping by 0.25% again and again which brings us to today at an incredible low of 0.10%. On top of that, the Government is currently offering $15,000 to First Home Owners for contracts entered into from the 1st of July 2018.
What does this mean for you? It means anyone who has been looking to buy a property, can now get a home loan with an extremely low-interest rate making it more affordable for the average income earner.
But do your research. Check out the different offers from the banks and get one that suits your needs. We suggest you do your calculations before applying for a loan. Get advice on your contract before signing it.
Does your property lie in a flood zone? There are so many possible questions with buying a property that you may not know what are the correct questions to ask.
Contact Aylward Game Solicitors for a 20minute free consultation or for $440 for up to 90minute consultation before you sign a contract.
