A Contract for the sale and purchase of property includes conditions stating that the purchaser accepts the property in its current condition and state of repair subject to all defects both obvious and hidden. You might have heard the saying “let the buyer beware”.
As a result, purchasers have an extremely limited right to complain after exchange of Contracts regarding the quality of the improvements and inclusions. Improvements include the structures on the property, for instance the house, shed, etc. Inclusions are usually movable items included in the sale, for instance the blinds, stove, air conditioner, etc. Purchasers should undertake thorough inspections of the property and the inclusions prior to exchange of Contracts, which is when the parties are formally bound by the Contract terms. … Read More
Are you an Employer? If so, are you aware of each of your employee’s termination notice period entitlements are?
Many employers do not take the time to understand their employment contracts and the effects of the National Employment Standards (NES). This can lead to harsh financial implications when terminating employees or, for example, selling your business, due to the requirement to provide the minimum period of notice or payment in lieu of notice.
If the notice period in the employment contract is greater than the minimum provisions under the NES, then the employment contract will apply. However, if the notice period in the employment contract is less than in the NES, the NES will prevail.… Read More
Everingham Solomons is proud to announce the successful bursar for 2018 is Claire Annis-Brown. Claire is an extremely well rounded student of McCarthy Catholic College having achieved excellent academic results in a range of subjects through her HSC. She is both liked and admired by her teachers and peers alike.
Claire is an accomplished sportswoman, particularly in Hockey where she has captained Tamworth representative teams for a number of years. She has also been involved in a range of local charitable endeavours over a long period of time.
Claire is enrolled to study law at the University of Newcastle in 2019 and Everingham Solomons wishes Claire the very best in that endeavour.… Read More
Everingham Solomons is proud to be one of the major sponsors and organisers of the Pedal the Peel Cycling Challenge to be held at Moore Creek Tennis Club, Moore Creek Rd, Tamworth on Sunday, 7 April 2019.
The event is unique to Tamworth because it caters for all levels of rider fitness and experience.
You can choose from a flat 15 km or 25 km course or the more challenging 45 km or 100 km hilly courses.
The event is designed to encourage all levels of riders (minimum age 12 years) to become involved, have a great fun day and help raise money for local charities.… Read More
Quite often I come across sellers, testators and mortgagors wherein their names are incomplete or otherwise different from their identification documents (ID) i.e. driver’s licence, passport, birth certificate and marriage certificate (if applicable).
The spelling of your name is critical when preparing any legal documents for example your Will, Power of Attorney, Appointment of Enduring Guardian, sale and purchase of land contracts, mortgages and transferring shares.
These discrepancies can result in delays finalising your property transaction, in some cases breach of contract, issues with selling your shares and can result in increased transaction costs, delay and frustration.
There are many reasons for the inconsistencies, however the most common are:-
… Read More
- Anglicised names (which buyers/sellers/shareholders may commonly go by in day to day life) are not always the same names as reflected on their legal ID documents
- Marriage (or breakdown of marriage) where the seller has changed their name since purchasing the property or shares
- Missing middle names, which buyer/seller/shareholder may not use all the time, accidently being omitted from the legal documents i.e.
Tougher penalties for drink-driving offences came into effect in NSW aimed at reducing trauma on our roads. The changes are particularly significant for those convicted of first-time mid-range offences i.e. a blood alcohol reading between 0.08 and 0.149 and no convictions of a similar kind or major drink-drive offences in the previous 5 years.
Penalties from 3 December 2018
If you are convicted of a first-time mid-range drink driving offence committed on or after 3 December 2018 the court must now order you to participate in the interlock program for a minimum 12 months and disqualify you from driving for a minimum 6 months.… Read More
I’m often asked by Landlords what’s the best form of security to take from a tenant?
The usual forms of security are one or more of the following: –
- Personal guarantee from directors or shareholders of a corporate tenant,
- Cash bond; or
- Bank guarantee
I generally recommend a bank guarantee.
A personal guarantee requires either a voluntary payment by the guarantors or for a landlord to sue the guarantors. Frequently, a personal guarantee proves to be ineffective because if the tenant can’t pay the rent there’s a good chance that the guarantor’s financial position may not be much better.
A cash bond involves the tenant actually paying an agreed amount of money as security for payment of the rent.… Read More
Further to Libby Campbell’s article last week in regards to hours of work and the calculation of pre-injury average weekly earnings (PIAWE), for work capacity decisions made on or after 1 January 2019, there is a new regime.
Work capacity decisions include decisions by the workers compensation insurer in respect to a worker’s capacity to work and their PIAWE.
Decisions in respect to PIAWE, which are generally mathematical calculations, require review of wages material in the 12 months prior to the worker’s injury and will be in the large part resolved by a review of the insurer, or failing that by an arbitrator of the Workers Compensation Commission.… Read More
The payment of weekly compensation for workers compensation matters are calculated based on the workers pre-injury average weekly earnings (PIAWE) prior to the injury date.
Generally the insurer will review the amount the worker has earned in the 52 weeks prior to the injury. The total amount is then averaged over the 52 week period and the weekly amount is known as the PIAWE figure.
For the first 13 weeks of the claim the worker will receive 95% of the PIAWE amount and from 14 weeks onwards the worker will then receive 80% of the PIAWE amount if they are totally incapacitated to work.… Read More
Many readers will be members of Self-Managed Superannuation Funds (SMSFs) and will understand in general terms the limits imposed on SMSFs with respect to the types of investments they can make.
Superannuation legislation prevents s SMSFs from investments in a related party. This is called the ‘in-house asset test’. There are some notable exceptions including that a SMSF can often purchase land and buildings (including farms) upon which the SMSF’s members can conduct their business.
Another prohibition insures that SMSFs cannot use retirement savings accumulated at favourable tax rates to acquire property, for example holiday houses or fast cars, that can be used beneficially by the SMSFs members or family before retirement.… Read More