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25.01.2022 FIRST HOME BUYERS ASSISTANCE SCHEME UPDATE:

23.01.2022 Interesting Adverse Possession article - https://wolterskluwer.com.au//adverse-possession-claim-ov/

22.01.2022 First editorial in the Great Lakes Advocate for Palms Conveyancing

06.01.2022 FIRST HOME BUYERS ASSISTANCE SCHEME (this is Not the First Home Owners Grant for new homes or Home Builders grant): The NSW Government introduced legislation to implement the increased first home buyer transfer (stamp) duty concessions on 29 July 2020. Parliament is expected to debate this in the week beginning 3 August 2020. If this legislation is enacted, the changes to transfer (stamp) duty will start from 1 August 2020. Further information will be added to this page as i...t becomes available. https://www.revenue.nsw.gov.au//first-ho/assistance-scheme

04.01.2022 One Simple Strata or Two Torrens Titles: Two homes built on the same lot will, in general, start with a normal house and land Torrens title. The land was probably either empty or had a single family home on it when originally purchased and has since been modified to contain two single-family homes, also known as a ‘dual-occupancy property’. Your two options in this situation are:... 1. Completely sub-divide the property into two separate Torrens titles. This route will leave you with two legally separate properties that will no longer have anything to do with each other. 2. Split the homes but keep the property unified with a simple dual-occupancy strata title. The strata title allows for shared assets like the roof and foundation of a duplex or a shared yard, pool, outbuildings, or driveway depending on how the property is put together. Which one you choose should be determined by a combination of land arrangement, minimum lot size and personal preference. Sub-Dividing Into Two Torrens Titles: The simplest way to deal with your two-home situation is to sub-divide it into two Torrens titles. However, unlike a strata title, there are a few qualifying factors that must be met. First, it can’t be a duplex. Sharing a wall, foundation, and roof automatically make the two homes one property even if they are otherwise essentially separate. Second, the two homes need to have their road access and legal driveways. Third, you must be able to create two separate yards with no shared assets like a pool, garden, or workshop. Putting in a separating fence is a good way to indicate where the property line needs to be. Changing To a Dual-Occupancy Strata Title: If your properties can’t be effectively separated because they share a roof, driveway, or other essential physical elements then you’ll need to go with a dual-occupancy strata title. This is the best answer to selling two halves of a duplex separately and works equally well for two-home properties for which the yard and other assets cannot be easily split. When you sub-divide, you’ll need the help of a conveyancer to not only change the details on the first title but to create an entirely new title that will represent your now separate second property. Speak to Palms Conveyancing. Full article at www.titleexchange.com.au