Q: Asking for a friend who lives in an Retirement Village -
She has a small unit, half the size of many other dwellings, the house takes up the whole block. She pays the same land rental as the larger dwellings and their larger sized blocks which can accommodate caravans, boats,etc.
Is there any avenue that can be tried to get her payments more in line with her
very small imprint. ????
A: Morning Diane
I am familiar with a few of the different types of schemes down your way. In one type then she would only need to get management to change it, the other she would need to get a majority of owners to consent. It is very dependent on the structure of it. Easiest way is to ask management, they will know.
Q: I would please like to know the best type of home loan for a couple, where one partner has children from a previous marriage, especially if the partner without the children is putting in the deposit. Is it best to set up "Tenants in Common" or "Joint Tenancy".
Could you also give me the advantages of "Tennants in Common" and the disadvantages of "Joint tenancy" (and if there are any advantages in Joint tenancy?)
A: Joint tenants - 1 person dies, the other gets their share of the house
Tenants in Common - you shares are dealt with as per your will or intestacy laws
You can sever a Joint Tenancy by lodging a form at titles.
Q: Is it possible to use a deposit bond as the deposit to buy a property off the plan. Property will be completed late 2019?
A: We don't see as many if them as we used to. But still see conditions in contracts dealing with it.
Q: I'm interested to know - is a vendor required to disclose the amount required to pay out the mortgage at settlement? Is there a law that explains this?
A: Hi Lina
In QLD no and I can't imagine it would be in other states.
At settlement we do get an amount payable to the vendor's lender but that may only be apart of the total if they have other security.
Q: Inquiring for an elderly friend who is trying to get her estate in order. She does not want her family to have anything when she dies (she feels that they have got enough from her as it is and doesn't even want to mention them by name in her will) -
all money is to be left to charity.
She is assuming that once she dies and the will is in the hands of the solicitor he will then action and wind up the estate.
I should mention that she is living in Qld.
A: Morning Diane
Unfortunately there is something in QLD (and rest of Australia) called family provision under the various succession acts. This will likely allow her family to challenge the will. The likelihood of this can be reduced if the will is carefully drafted, there is clear reasoning etc. Depending on the circumstances of the individual children it can be better to make some provision for them in the will.
Above is very very general. My firm can meet and advise, draft a will and be executor of the estate too. If you email me at email@example.com I can arrange one of our wills and estates people to make contact.
Q: I have a horrible credit rating and currently unemployed but I need finance for my next venture. I have more than enough equity in my home for what I need but who or how do I go about getting a loan, who should I be looking to speak with?
A: Hi James
Give us a call and we will see if we can get defaults removed. Many lenders list them unlawfully and if so my lawyers get them removed and your credit rating will increase.
Welcome to Certus Legal Group
My father recently passed and left in his will that his assets go into a Testamentary Trust.
I'd like any advice on how do I establish such a trust and transfer assets (car, home) into it? All I have so far is a tax file number for it.
A: Hi Shane
Sorry for your loss. Hopefully the family comes together in this time.
Have you got probate? You may or may not need it depending on the other asset values (we can transfer a house with a will, but many financial institutions require probate above a certain amount.
Happy to have a quick look at wording for you (off line), run it past my wills and estates lawyers, and then answer back through here (with no identifying info) so others can see the answer.