Trevor Hoorn, Author at Supreme Settlements - Page 2 of 2

What happens to your home when relationships breakdown?

What happens to the family home when you are going through a relationship breakdown?

How do you end the property partnership?

Divorce, or separation is a stressful time, and it is in your best interest to get a court order to protect your assets. Often you will engage a lawyer.

In the case of property transfer a settlement agent may be able to look after the process of title change.

One partner may decide to buy out the other, alternatively the shared property sells.

The following may be part of property transfer process;

Ownership of Property – Confirmed by a Title Search

All parties involved are in agreement

If court orders are applicable – Original stamped embossed order required.

If there is a mortgage over the property – Confirmed via Title Search. For a bank mortgage, lodge a discharge form with the bank, completed by all parties. When there is no mortgage the Certificate of Title will be with your Settlement Agent.

Payment. Financial approval from the bank to transfer the amount. Required to confirm funds are available.

Transfer of land document; Related parties authority; Stamp duty valuation form; Cost disbursement. Signed by the client.

Identification – All owners need identification.

Stamp duty. An assessment for all related parties based on the value and ownership status. Following this process, documents need signing. Stamp duty assessed and banks are ready to proceed. The settlement date can proceed.

Relationship breakdown can be a stressful, traumatic time, for the entire family. Transfer of property ownership is one thing to deal with.

At Supreme Settlements we care about our clients

It is our aim is to make the settlement as straightforward and stress-free as possible.

We assign a conveyancer to you to take you through the complete settlement process.

If you are at this crossroad in your relationship, give us a call and organize to come in for a chat.

Speak to a family lawyer and seek advice through the various government departments.

Advice: Conveyancing is a time-consuming and complicated process. There are many pitfalls for the unwary. A professional settlement agent will understand the entire process. They will know how to ensure a smooth transfer.

Property settlement is a legal process. Generally facilitated by your settlement agent and financial representatives and those of the seller. It’s when ownership passes from the seller to you, and you pay the balance of the sale price.

The seller sets the settlement date in the contract of sale.

As a general rule, property settlement periods are usually 30 to 90 days, but they can be longer or shorter.

On settlement day, at an agreed time and place, your settlement agent (conveyancer) meets with your lender and the seller’s representatives to exchange documents. They organise for the balance of the purchase price to be paid to the seller.

Just before settlement, you’ll have the opportunity to do a final inspection of the property. Often this is done the day before or the morning of the settlement. Contact the agent to arrange this inspection.

The seller must hand over the property in the same condition as when it was sold.

After settlement, your lender will draw down on your loan. This means that they’ll debit the amount they’ve paid at settlement from your loan account.

You’re then responsible for paying land transfer duty or stamp duty. It’s usually paid on the settlement date. The title to the property won’t transfer to your name until you have paid this duty.

The seller handles rates and other council fees up to and including the day of settlement. After this date, you will need to pay these costs.

Once settlement has completed, you can collect the keys from the agent. The property is now yours. It’s time to move into your new home.

Are you buying or selling commercial property?

Are you thinking of buying or selling commercial property?

The Offer & Acceptance contracts are often complex. You need to take special care that you meet your obligations about GST.

At Supreme Settlements we deal with commercial conveyancing. Properties like: industrial premises, shopping centers, and inner city strata office suites. Including of course, multi-story commercial, mixed use buildings and retail showrooms.

We communicate directly with our clients. And explain all legalities. If you know what is taking place and why, the less stressed you will feel.

We work with our clients, and with their objectives in mind, determine the right outcome.

Review every detail of the transaction

Supreme Settlements are the experienced conveyancing team. We will prepare all the necessary real estate documents. Rest assured we will review every detail of the transaction. Ultimately ensure your interests are safe guarded.

e-Conveyancing is a natural extension of the technologies employed in commercial property transactions. Electronic transfers can quicken the process.

Buying a building? Or developing a rental portfolio? Maybe purchasing a unit to start a small business? Choose your team who can understand you and your business goals.

Commercial properties are all about time and money. Make sure all financial considerations are secure.

Commercial transactions are complex. Clients should undertake research and seek advice. Know the risks and benefits before entering into a contract.

Need more information?

At Supreme Settlements, the team provides a professional and efficient conveyancing services.