Strata Renewal Plans and Strata Renewal Proposals – Will the redevelopment of redundant apartment buildings be more achievable for owners and developers?
The Strata Schemes Development Act 2015 that commenced on 30 November 2016 offers significant benefits to the development industry by way of a new process that enables lot owners to end outdated strata schemes for sale or redevelopment purposes.
Section 149 planning certificates: Shifting Sands
Councils are currently required to include in section 149 planning certificates (Planning Certificates) information about whether or not the land is affected by a council or public authority policy that restricts development on the property because of the likelihood of risks such as coastal erosion and tidal inundation.
Reforms: Duty payable on a Novation of an Option to purchase land
The State Revenue Legislation Further Amendment Act 2014 (Act), and its imposition of transfer duty on nominations and novations involving options to purchase land in New South Wales, received royal assent on 23 October 2014 and is now law.
'Easements of Necessity' – When the Land and Environment Court may be the more appropriate forum
Developers need to consider carefully the most appropriate Court to apply for an order for an easement of necessity. Failure to do so can cause delays and incur further costs even if the easement is granted by the Court.
Takeovers Panel applications – A delay in making an application could be fatal
One of the main objectives of the Takeovers Panel is to determine corporate control disputes in a speedy manner. Consistent with this objective, parties considering making an application to the Panel should bear in mind the need to act without delay. There have been instances where a delay in making an application has led to the Panel declining to conduct proceedings.
Are Bank Guarantees Really Unconditional?
It is common for tenants under commercial and retail leases, as well as contractors under construction contracts, to provide a bank guarantee to the landlord or principal to secure the performance of its obligations under the relevant contract.
Short Term Rental – When is the Law Broken?
It is very likely that in many instances individuals are offering their properties for rent through websites such as airbnb and stayz without knowing whether or not they are breaking the law.