After years of debate and consultation, electronic conveyancing in South Australia is finally here, the birthplace of Torrens Title system of real property ownership, with fundamental changes to the way in which land transactions are carried out “online” having already taken effect. The changes not only affect how practitioners such as solicitors and conveyancers carry […]
The average property purchaser usually requires finance to be approved from a bank or lending institution before a sale of property can take place. Often, the purchaser will want and need the extra precaution of having the contract made “subject to finance”, so that they can pull out of the contract if they are unable […]
It is important to remember that if a person becomes bankrupt, all their assets “vest in”, or become controlled by, their trustee in bankruptcy, who can then sell those assets to pay out the creditors of the bankrupt.
Such assets include the family home of the bankrupt whether the home is registered in the sole name of the bankrupt or the joint names of the bankrupt and their spouse or other family member.
Buying a property involves numerous issues, not least of which is this: how do you hold the property if there are two or more purchasers?
Land can be owned in several different ways, and by more than one person.