Under an Option Deed and a Lease Agreement, the most common payments are the option fee and the rent. There are other types of payments such as reimbursement of legal costs and fees for grant of easements, but this article will only focus on the option fee and the rent.
In consideration of the landowner’s grant of an option to lease/purchase the land, the developer will pay an option fee to the landowner annually during the option period (e.g. 4 years). Typically, for the purpose of conducting investigations on the land, it is quite common that during the option period contractors for the developer will access the land with equipment to conduct different types of tests.… Read More
In continuing support of a great cause, from 22 to 26 March 2021, Everingham Solomons Solicitors are preparing professionally drafted Will packages* at the heavily discounted rate of $125 per person (or $225 per couple), with 100% of the proceeds being donated to the Westpac Rescue Helicopter Service.
Part of the government’s response to the economic downturn caused by Covid-19 has been to encourage spending in certain sectors. The building industry have been given a lifeline via the Homebuilder scheme, which encourages eligible home owners to renovate their existing home, buy a new home off the plan or build a new home.
The scheme was to finish at the end of 2020, but has now been extended to 31 March 2021 with an amended grant amount and conditions.
The grant you will receive depends on when you entered into your building Contract and applications must be submitted by 14 April 2021.… Read More
Before you sue someone, it is critical to consider whether you will actually be able to get them to pay you money or give you property if you win your court case. If you don’t, you could be in the unfortunate position of having won your case but not being able to enjoy the spoils of your victory.
Generally, after winning a court case the court will make orders requiring the losing party to pay the winning party a sum of money or give them certain property. However, there is nothing to guarantee that the losing party will actually obey the court’s orders immediately.… Read More
If a person makes a promise (“the promisor”) to another that s/he will obtain an interest in the promisor’s land and in reliance upon that promise, the other person then acts to his/her detriment, the law will intervene to prevent the promisor from going back on his/her word when it would be unconscionable for the promisor to do so. A recent NSW Supreme Court case has considered this legal principle known as proprietary estoppel where disgruntled neighbours sued the estate of his deceased neighbour after it was discovered that she reneged on her promise to leave them certain land by her Will.… Read More
Under Workers Compensation Legislation, if a worker is assessed at 31% Whole Person Impairment or greater they are considered a “worker with highest needs”. This classification provides them with an entitlement to receive weekly payments at the Pre Injury Average Weekly Earnings rate, in addition to any potential income they may be earning from employment, provided they still have some level of incapacity. Therefore a worker considered in this class, can potentially be receiving significantly more money per week post injury than what they were earning prior to the injury.
However, the question has been raised by the recent case of Meat Carter Pty Ltd v Melides  NSWCA 307, when does the highest rate of weekly payments start.… Read More
I have recently joined Everingham Solomons where I work in the litigation and business law team.
I moved to Tamworth in 2019 to join my wife who works at a local secondary school. I have felt warmly welcomed by the local community and I am thoroughly enjoying the lifestyle offered in Tamworth.
Prior to moving to here, I worked in Sydney at one of Australia’s largest commercial law firms where I focused on commercial litigation and business transactions. This included resolving contractual disputes, engaging with regulatory bodies, and preparing contracts/other business documents. I also spent one year working at a youth legal centre where I practised in criminal law.… Read More
The State Revenue Legislation Further Amendment Act of 2020 has received Royal Assent.
In short, the Act indicates that any discretionary trust or family trust or testamentary trust that owns or will purchase residential property, may be subject to surcharge land tax and surcharge stamp duty.
This means that if a discretionary/family/testamentary trust is purchasing residential property, it will be charged an additional 8% of the market value of a property by way of surcharge stamp duty.
In addition, surcharge land tax over and above the standard rate, is increased by 2% on the unimproved value of the land.
Land tax is particularly nasty as it is levied each year on the 31 December.… Read More
The Holliday season is something a lot of us look forward to for the whole year as it brings with it some much awaited time off from work.
It also brings with it a number of Public Holidays, and who doesn’t love a public holiday!
So what Public holidays do we have to look forward to over the holiday season?
In NSW Christmas day, 25 December 2020 and Boxing Day are recognised as Public Holidays.
As Boxing Day falls on a Saturday this year, there is an additional Public holiday on 28 December 2020. Bonus!
New Year’s Day is also a public holiday falling on Friday 1 January 2020.… Read More