When you buy a residential property in NSW there is a five business-day cooling-off period after you exchange sale contracts. During this period you have the option to get out of the contract as long as you give written notice. The cooling-off period starts as soon as you exchange and ends at 5pm on the…
What is Adverse possessions or possessory possession? Adverse possession is when a person gains title to a property if they have remained in that same property for a certain amount of time. A person or persons who has occupied the Land for the prescribed amount of time, in certain circumstances can prevent the true owner from reclaiming…
Title Insurance is all about coverage for risks AFTER the date of Settlement (risks not known or, known risks – with additional premium) to all parties prior to signing Contract and before Settlement) via compensation for loss in value or reimbursement of expenses in the future. It is a specialised type of insurance that provides…
A Section 10.7 Planning Certificate (ex. Section 149 Certificate) of the NSW Environment Planning and Assessment Act 1979 is a legal document that confirms the zoning and applicable rules for development of your property. By law, the Section 10.7 Certificate must be attached to all contracts for Sale of property. Two types of Council 10.7…
