In short, an Offer to Lease, Agreement to Lease or Agreement for Lease are all pre-cursor documents to a Lease. They are used before a Lease is to be entered into and will contain varying degrees of detail based on the nature of the matter and the relevant parties’ requirements. Regardless of the name of the document, it is the form and content of the document which is most important. Offer to Lease Typically, an Offer to Lease is a simple agreement regarding the terms which will be comprised in a new Lease between parties and may be either binding or non-binding in nature. An Offer to Lease s ..read more

Capital gains tax (CGT) is a tax levied on the profit realised from the sale of an asset that was greater in value at the time of sale than when it was originally purchased. The most common capital gains are realised from the sale of shares, bonds, real estate, and other property and the implications can depend on the types of property transfer taking place. In certain property transfer circumstances, Stamp Duty exemptions may apply. The tax implications of transferring property can vary significantly depending on the types of property transfer, the jurisdiction, the nature of the property, an ..read more

This article discusses the meaning of a caveat, the functions of a caveat and how they may be dealt with in South Australia. Property caveats are not the same thing as probate caveats. Probate caveats relate to deceased estates. What is a caveat? In Latin, the word ‘caveat’ translates directly to ‘let a person beware’. In other words, a caveat is a warning or a caution. In property law, a person (known as the caveator) may register a caveat on the Certificate of Title of a property as a notice to the world that the caveator is claiming an unregistered interest in that property. The function of ..read more

What is stamp duty? Stamp duty, sometimes known as transfer duty, is a tax imposed by state and territory governments in Australia on transactions involving the transfer of property. The specifics of stamp duty, including rates and exemptions, vary by jurisdiction, reflecting the decentralised nature of Australia’s tax system. In South Australia (SA), as in other states, stamp duty is calculated based on the value of the property being transferred or the consideration paid for the transfer, whichever is higher. Do we need to pay stamp duty while transferring ownership? When property is transfe ..read more

South Australia’s Advance Care Directive (‘ACD’) allows you to appoint people to make medical decisions on your behalf if you are unable to make decisions yourself. It also allows you to record your wishes and values and refusals of health care, so that the people you appoint will be guided in their decision making. We recommend that you seek legal advice to ensure you are making decisions that best suit your circumstances and avoid mistakes that can easily be made and can lead to unintended consequences. Values, Wishes, Refusals of Health Care The ACD allows you to include statements as to yo ..read more

Transferring property from a parent to a child or family member encompasses several legal, financial, and tax considerations. There are various types of property transfer and the actual property transfer process can be motivated by various intentions and situations, including estate planning and distribution, financial assistance, or simply a parental gesture of goodwill. Unlike transfer of property to a spouse, which might qualify for stamp duty exemptions under certain conditions, transfers of property to a child or a family member typically do not enjoy such exemptions and may have signific ..read more

An Advance Care Directive is a legal form by which you appoint people to assist you if you are unable to make decisions about your own health care. On 1 March 2024, the Government of South Australia introduced an updated Advance Care Directive (“ACD”) form with a fresh new look and a few updates. So, what are some of the changes that have been made? Let’s explore. Do-It-Yourself or Seek Legal Advice? The ACD notes that it is “designed for people with decision-making capacity, aged 18 years or older, to complete using the Do-It-Yourself Guide”. Whilst the document may be intended to be accessib ..read more

Property transfer is a critical aspect in real estate transactions and involves the legal process to transfer property ownership rights from one entity to another. This can occur under various circumstances and for multiple reasons, each with its unique legal and financial implications. In South Australia, the process of transferring property is governed by specific laws and regulations to ensure transparency, fairness, and the protection of all parties involved. This blog explores the different types of property transfer in South Australia, considering sale transfers, gifted transfers, and fa ..read more

Eckermann Group-owned reaforms is excited to unveil its latest transformation – Greatforms. This state-of-the-art compliance technology platform is meticulously designed to empower real estate professionals by supercharging operational efficiency, reducing risk, and streamlining compliance processes.   https://eckermanns.com.au/wp-content/uploads/2024/04/Eckermanns-WebsiteBlogposts11-ezgif.com-video-to-gif-converter.mp4   Greatforms is not just another tool for agents; it’s a powerhouse solution developed to address the significant challenges faced by the real estate sector today. It ..read more

Over the 12 months leading up to February 2024, Australia’s property market has witnessed a notable upswing, with Adelaide’s real estate sector playing a pivotal role in this upward trend. According to CoreLogic’s recent Home Value Index, the national median dwelling value has soared by 8.9%, buoyed significantly by Adelaide’s standout performance. In a show of resilience and growth, Adelaide’s property values have grown an impressive 13% year-on-year across both houses and units, signalling a robust growth phase mirroring the national trend. Adelaide’s Suburb Performance: A Closer Look A deta ..read more