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General exceptions to Transfer Duty
Your transaction may also be exempt from transfer duty if:(1) the contract is terminated or comes to an end;(2) it is a transfer pursuant to a Family Court order, maintenance agreement or binding financial agreement;(3) it is a transfer between de fa...
Are prenups worth the paper they’re written on?
Pre-nups in Australia are created in a agreement called a Binding Financial Agreements (“BFA”) which can be used for both married and de facto couples during their relationship to document what they want to happen to their assets in the event that th...
Electrical Safety Switches
If an approved electrical safety switch for general purpose socket outlets has not been installed in the property under the Electricity Regulations you are required to have one installed within 3 months following settlement. Failure to do so could r...
Transfer Duty payable when purchasing property
Transfer duty is a state tax which is payable on dutiable transactions in Queensland. Transfer duty is calculated on the dutiable value of the property which is generally the higher of the consideration payable under the contract and the unencumbered...
Buyer Beware - do your searches!
In Queensland the onus is on a buyer to obtain searches and satisfy itself about the property. There is no obligation on the seller to tell you about the property or any of its defects or other issues, except for limited contractual warranties and s...
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