We have been hearing on the grapevine that the Draft 2013 Local Environment Plan (LEP) will be released and gazetted by the NSW State Government shortly. Once the Draft LEP has been gazetted, it will no longer be a Draft LEP and will be the...
When establishing a Self Managed Super Fund (SMSF) you can have the individual members as trustees or otherwise you can have a corporate trustee. The corporate trustee may cost a few extra dollars in the short term, but there are good reasons why we would...
For any business owner, they need to think about their eventual exit in order to maximise the return they get from the business. A business owner should regularly review and assess the business through the eyes of the potential buyer. We set out below some of...
For an agent to be able to claim commission when a property has been shifted from them and listed by another agent, they must be able to show that there is a connection between their actions and the sale of the property. Therefore, the agent should...
A common dilemma facing purchasers of property is what to do when the seller fails to fulfil their contractual obligations prior to completion. A purchaser's response will often be dictated by market conditions, for example, in a rising market (such as we are in at...
For an agent to be in a position to claim their commission they must, by law, have a valid Agency Agreement. For a valid Agency Agreement to exist, the agent must meet the following requirements: It must be in writing and signed by, or on behalf of,...
Many couples who separate today come to a mutual agreement on how to divide their property, however many do not take the steps to legally formalise these agreements. Unfortunately things can change over time, amicable couples can become uncivil and an individual's financial situation can...
A company constitution does not adequately protect shareholders in the event of a dispute between members. It is not compulsory to have a properly formulated Shareholder Agreement but it is highly recommended for all companies. When a person is entering into a business relationship by way of...
Read the Solari & Stock Newsletter - May 2015 here. Want to subscribe to our Newsletter? Email us today!...
Retail and commercial leases normally include provisions setting out the tenant's specific insurance obligations. Typically a failure to adhere to these obligations will result in a breach of the lease. Additionally, most leases require the tenant to 'indemnify' the landlord against certain losses or occurrences...