Amity Law in Brisbane, Queensland, Australia | Lawyer & law firm

Amity Law

Locality: Brisbane, Queensland, Australia

Phone: +61 7 3220 0621

Address: 5/54 Vernon Terrace 4005 Brisbane, QLD, Australia

Website: http://www.amitylaw.com.au

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25.01.2022 Its 2019 - and despite the headwinds in Sydney and Melbourne - pundits are picking Brisbane property prices will rise and out perform all other major capital cities this year. The simple logic being - interstate migration has trended back to the norm - and Brisbane is the most popular interstate destination. So if you are in the property industry like us - the signs are good for 2019. Fingers crossed for a big year. #brisbaneproperty #brisbanepropertymarket #brisbanerealestate #propertyexperts #propertylawyerbrisbane

25.01.2022 In QLD, the standard REIQ contract used for buying residential property allows for a cooling off period of 5 business days. This means that if you a sign a contract but no longer want to proceed with the purchase, you can cancel the contract during the cooling-off period (exceptions apply). The cooling off period starts on the day you receive a copy of the contract (signed by both parties) from the seller or their agent and ends at 5:00 pm on the 5th business day.... You are entitled to terminate the contract anytime during the cooling off period, however, be aware the seller will be entitled to retain 0.25% of the total purchase price. Got a query about the cooling off period? Get in touch. Read our full article about the cooling off period on our website - link in our bio. #coolingoff #reiq #property #conveyancing #propertylawyers #locallawfirm #teneriffe #realestate #brisbanelawfirm #brisbanerealestate #buyingahouse

22.01.2022 You might be surprised to find that in Qld, the risk for the property passes to you the day after signing (i.e. if the property burns down, you still have to settle). To protect yourself, you should: *Talk to us before you sign. If you have any particular concerns, we can draft a special condition to deal with those.... *As soon as you sign, take out property insurance; *Carry out a pre-settlement inspection (you are entitled to do so under the contract); *Tell us straight away if your inspection reveals the property has been damaged or the seller has made any changes so we can advise you on your rights. Read our article on your rights regarding pre-settlement damage on our website - see the link in our bio. #property #conveyancing #propertylawyers #locallawfirm #teneriffe #realestate #brisbanelawfirm #brisbanerealeatate #buyingahouse #presettlementinspection

22.01.2022 A number of our clients have asked this question recently. In QLD, unless the law changes, the answer is generally no, you cant stop it. Why no?... The council planning approval for a complex and the complex by-laws dictate what a unit can be used for. In most cases, the planning approval will simply permit residential use and have no restriction on the type of residential use. If the planning approval allows residential use, the body corporate legislation says the by-laws cannot restrict the type of residential use (including short-term letting). So even if 99 out of 100 unit owners in a complex want to pass a by-Law prohibiting short-term letting and did so, in QLD the by-law would probably not be enforceable. #shortyermletting #airbnb #property #conveyancing #propertylaw #locallawfirm #teneriffe #realestate #brisbanerealestate

21.01.2022 The RBA has again left the cash rate unchanged at 1.5%, following it’s meeting earlier this afternoon. The Board considered the outlook for the global economy to be reasonable, although the risks are tilted to the downside." Many saw today’s meeting as an each way bet - hold or cut. Either way, it’s hard to see a cut (which would only be small) swinging prospective property buyers with rates already extremely low. It’s more a case of the RBA’s assessment of the economy being more positive than some had thought. #cashrate #rba #reservebankofaustralia #reservebank #rbainfo

16.01.2022 The RBA has again left the cash rate unchanged at 1.5%, following its meeting earlier this afternoon. The Board considered the outlook for the global economy to be reasonable, although the risks are tilted to the downside." Many saw todays meeting as an each way bet - hold or cut. Either way, its hard to see a cut (which would only be small) swinging prospective property buyers with rates already extremely low. Its more a case of the RBAs assessment of the economy being more positive than some had thought. #cashrate #rba #reservebankofaustralia #reservebank #rbainfo

16.01.2022 Purplebricks are pulling up stumps in Australia after only a couple of years. Turns out their low cost brand of real estate agency services were not what the doctor ordered.

16.01.2022 Yes you can, but normally the landlords prior written consent is required. The lease will regulate the transfer/assignment process and impose conditions on the landlord giving his or her consent. . ... But what if the landlord refuses to consent to the transfer/assignment of your lease . Most landlords are not trying to make it hard, but section 121 of the Property Law Act prevents a landlord from unreasonably withholding consent regardless of what the lease itself says. . And whats unreasonable . As is often the case it depends on the circumstances, but one of the most common reasons for a landlord refusing consent is where a retail business requires a particular skill-set and the new tenant cannot reasonably demonstrate to the landlord that the new tenant has those skills. . A few hot tips . It need not be a complicated process, but just be careful: (i) if you are selling the business you receive a full release from your lease obligations, or if thats not possible the new tenant indemnifies you otherwise you are essentially playing guarantor for the new tenant; (ii) you understand the obligations you are assuming as a new tenant under the lease, including the removal and make good requirements at the end of the lease term these can be expensive; (iii) for landlords make sure the new tenant expressly agrees to be bound by all of the obligations under the lease as some covenants do not necessarily run with the land and must be expressly accepted on assignment. . We are here to help give us a call. #propertylaw #sellingabusiness #lease #assignment #leaseassignment #property #hottips

15.01.2022 On the whole the Banking Royal Commission Report didn’t appear too bad for the major banks. It will depend upon how the 76 recommendations are actually implemented by the Federal Government. Mortgage brokers and financial advisors on the other hand may need to seriously re-visit their fee models. Either way, we hope the release of the Report will calm the financial sector and borrowers can be given additional protection without choking lending with over-regulation of the banks.

13.01.2022 All businesses are exposed to risk, whether its a risk to trading conditions, general reputational risk or exposure to unexpected liability. Why not develop a risk management plan. Essentially this process involves: . ASSESSING THE RISK... . Attempt to identify all the potential risks to your business. You know your business and will be able to identify many of these risks yourself, such as competition risk and low trading periods. Sometimes it may be useful to also consult with an accountant (financial risk), lawyer (legal risk) or insurer (incident risk). . DOCUMENTING THE RISK . Once those potential risks are identified, document them in a risk management plan with corresponding risk strategies to share with management personnel. . MANAGING THE RISK . Some risks can be neutralised or at least minimised (eg through insurance, legal waivers or disclaimers). Other risks are a part of life and being prepared to deal with potential outcomes from those risks will better equip you to deal with the consequences with the least possible consequences for your business. Feel free to call us well help you get a handle on risk management. . #propertylaw #businesslaw #businesslawyers #riskmanagement #runningabusiness #managingrisk

13.01.2022 Theres nothing more romantic than buying a property together on Valentines Day. Become an Amity client today and receive a bottle of champagne (well pick a nice one). Happy Valentines Day

13.01.2022 This Friday Amity Law will be hosting a rent roll seminar on transferring appointments. We would love to see you there! Please rsvp to [email protected]

12.01.2022 We like to keep things simple. If there are just 3 things to consider in a contract, doesnt matter what sort of contract, its MONEY, POWER & RISK. Think about:... MONEY - How much and how / where does it flow. POWER - who has it, whats the scope of it and how is it exercised? RISK - what are the risks (liability/loss/responsibility) and how are they allocated between the parties and in what proportion? Ask yourself (and the other party) these questions and you would have broadly considered 90% of the issues which arise in any contract. If you then need help navigating through those issues then please let us know - thats our thing. #contractlaw #property #propertylawyers #locallawfirm #teneriffe #brisbanelawfirm

11.01.2022 So, whilst it may not exactly be light-reading material for the bathtub, we have just published a Library of Special Conditions on our website (link in our bio). Of course we recommend obtaining legal advice before using special conditions, but we wanted to give our clients and Insta followers a sample of our special conditions which may be useful to tailoring REIQ Contracts to their particular needs. #propertylaw #realestate #property #conveyancing #locallawfirm #teneriffe

10.01.2022 On the whole the Banking Royal Commission Report didnt appear too bad for the major banks. It will depend upon how the 76 recommendations are actually implemented by the Federal Government. Mortgage brokers and financial advisors on the other hand may need to seriously re-visit their fee models. Either way, we hope the release of the Report will calm the financial sector and borrowers can be given additional protection without choking lending with over-regulation of the banks.

09.01.2022 The Governments federal budget did not include any specific initiatives intended to boost the property market, however tax cuts, infrastructure spending and other economic growth stimulating triggers should have an indirect benefit by increasing household incomes and encouraging consumer confidence. On the flip-side (if you are holding property) Governments proposed reduction to immigration (down 20,000 per annum) will have a negative impact on housing demand and Government also intends to remove tax deductions for vacant land holding costs such as rates to dis-incentivise land owners and developers from land banking. It will be interesting to see the Oppositions response tomorrow, particularly given polling numbers favour a change of Government at the upcoming election. #budget2019

08.01.2022 The Government’s federal budget did not include any specific initiatives intended to boost the property market, however tax cuts, infrastructure spending and other economic growth stimulating triggers should have an indirect benefit by increasing household incomes and encouraging consumer confidence. On the flip-side (if you are holding property) Government’s proposed reduction to immigration (down 20,000 per annum) will have a negative impact on housing demand and Government also intends to remove tax deductions for vacant land holding costs such as rates to dis-incentivise land owners and developers from land banking. It will be interesting to see the Opposition’s response tomorrow, particularly given polling numbers favour a change of Government at the upcoming election. #budget2019

08.01.2022 Happy new year from us at Amity Law - we are excited to have just opened a new office in Teneriffe. If you need a lawyer to assist with your home, business, commercial property or your next development project, our lawyers are property and business law specialists - please visit our website for more information about us or just get in touch now - Cheers.

07.01.2022 Amity Law will be hosting a rent roll seminar on Friday 17 May at 2pm at our offices in Teneriffe. The topic for the afternoon will be Transferring Appointments. Guest speakers, Ross Macneil from Macquarie Bank and Grant Newsome from Real Estate Agency Sales will be in attendance to share some of their industry tips.... The format for the seminar is an informal get together and we invite anyone in the real estate industry considering or involved in the sale or purchase of a rent roll to attend. Please RSVP to Lucy at [email protected].

07.01.2022 There’s nothing more romantic than buying a property together on Valentines Day. Become an Amity client today and receive a bottle of champagne (we’ll pick a nice one). Happy Valentines Day

07.01.2022 The standard REIQ contract in QLD includes various seller warranties which have the seller confirming things like capacity to sell and the absence of judgments, orders or writs affecting the property. If these statements are wrong the buyer may be entitled to terminate the contract or claim against the seller for breach. If required, a buyer can insert additional warranties in the form of a special condition, or alternatively a seller can strip back the standard warranties ...(we can assist with this). Of course, its not always about contractual rights and remedies. There is often a practical solution to avoid disputes and contracts falling over. A good lawyer will explore all options and try to negotiate a positive outcome. Read our full article about seller warranties on our website - link in our bio. #sellerwarranties #reiq #property #conveyancing #propertylawyers #locallawfirm #teneriffe #realestate #brisbanelawfirm #brisbanerealestate #buyingahouse #sellingahouse

07.01.2022 We like to keep things simple. If there are just 3 things to consider in a contract, doesn’t matter what sort of contract, it’s MONEY, POWER & RISK. Think about:... MONEY - How much and how / where does it flow. POWER - who has it, what’s the scope of it and how is it exercised? RISK - what are the risks (liability/loss/responsibility) and how are they allocated between the parties and in what proportion? Ask yourself (and the other party) these questions and you would have broadly considered 90% of the issues which arise in any contract. If you then need help navigating through those issues then please let us know - that’s our thing. #contractlaw #property #propertylawyers #locallawfirm #teneriffe #brisbanelawfirm

01.01.2022 Our thoughts are with the people of Townsville during this tough time. Stay safe and we hope you bounce back quickly.