Blog
Role of an Executor
When someone dies, an executor is the person appointed by the will to administer the estate. The executor steps into the shoes, so to speak, of the deceased to carry out their wishes expressed in their will. The executor should ensure that the debts due by the deceased and the estate are paid and that…
Elder Abuse
he Australian Law Reform Commission’s Report Elder Abuse – A National Response was tabled on 14 June 2017 concluding a 15 month enquiry. It included 43 recommendations for law reform which aim to achieve a nationally consistent response to elder abuse.
Caveat
The caveat provisions in the Real Property Act were designed to protect subsisting interests in land. They were not designed to cater for persons “interested” in land in a non-proprietary sense only: for example persons who want to recover a debt from the registered proprietor, or who want to protect hoped-for benefits under a family…
Bankruptcy and Inheritance
Assets inherited by a bankrupt are not protected from bankruptcy. The courts have confirmed that by virtue of s58 of the Bankruptcy Act (“the Act”), a bankrupt’s interest in a deceased estate is an interest that vests in the trustee in bankruptcy as after acquired property.
Life Estates
A life estate is a proprietary right. As such, generally it may be transferred, leased or mortgaged. It is a right capable of sustaining a caveat. It often has significant value. The words that most commonly signify a life estate are ‘occupy’ and ‘use’, either separately or together.
Electronic Conveyancing
Eventually all transactions will proceed by way of e-conveyancing. At the conclusion of a sale, an e-conveyancing settlement will take place through a firm known as PEXA. Once clearance of title has been established the sale will be finalized and the transfer, any discharge of mortgage and any new mortgage will be registered electronically
Farmers: Protect Your Grain Sales
Importantly for farmers, a security interest which attaches to a harvested crop, will continue even if the grain subsequently becomes co-mingled with other grain owned by others. Normally if registered the farmer’s security interests will take priority over the grain buyer’s financier which has taken a security interest from the grain buyer in ‘all present…
Put and Call Options
A put and call option is an agreement between the potential vendor of a property (called the grantor) and a prospective purchaser of that property (called the grantee). It is a useful arrangement for a variety of situations where it may not be prudent to enter into a binding contract for the purchase of property…