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Frank J. Horvat & Co. Pty

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Frank J. Horvat & Co

Conveyancing & Property

Whether you are a first-time home buyer, a seasoned investor, or downsizing your family home, buying or selling a property is a big decision and a significant matter for most people. Our conveyancing services are offered at competitive rates, and we deliver them through a highly qualified and experienced team. In addition to real estate conveyancing, we can assist with a range of other property matters including ownership advice, mortgages and refinancing, property development, subdivisions, contract review, and commercial leasing.

Conveyancing Services

Conveyancing is the process of transferring the legal title of real estate from one party to another. Many people in Australia will buy or sell real estate during their lives which can create the impression that it is a low-risk process. On the contrary, there are major risks in any property conveyance. Not only are there strict deadlines involved in a conveyancing transaction, but there is also the potential for fundamental mistakes, misunderstandings, and even fraud. A conveyancing lawyer can ensure that buyers and sellers are aware of their obligations and will help protect their legal interests and minimise risk throughout the transaction.

If you are purchasing, we will review and explain your contract, including any cooling-off rights, and help you negotiate any additional conditions to protect your interests.

If you are selling, we will prepare a compliant contract and section 32 vendor statement, explain your obligations as a vendor, and help you navigate the process through to settlement.

Completion of most conveyancing transactions in Victoria are now conducted electronically through a system called PEXA. This allows a secure and timely transfer of ownership without the risk of a paper title, which could be lost or destroyed. However, an electronic settlement is a complex process which requires a thorough understanding of property law to ensure that nothing goes wrong. Our job is to make sure that nothing does.

Property Ownership – Joint Tenants or Tenants in Common

The way that legal interests are held between co-owners of a property is an important consideration. If you are buying a property with someone else, we will ask how your respective interests in that property should be held.

If you hold property as joint tenants, the interests are held as a whole and cannot be separately apportioned. Joint tenants must deal with the property collectively and joint tenancy is subject to the rules of survivorship. If a co-owner dies, their share passes to the remaining owner/s. Joint tenancy is typical between spouses and domestic partners, however, in some circumstances, it may not be the best option.

When you hold property as tenants in common you can specify the individual shares held by each owner which need not be equal and may be transferred, sold, or left to a beneficiary in a Will. Tenants in common may be suitable when the co-owners are business partners or investors and/or the contributions to the property are disproportionate. Again, it is important to obtain professional advice and understand the implications of this form of property ownership.

Commercial and Retail Leasing

If your business needs designated premises to run its operations, it is likely you will enter into a commercial or retail lease. Similarly, if you own commercial premises that you rent out, you will want a well-drafted lease agreement that protects your investment. A lease agreement sets out each party’s rights and responsibilities and should create a fair balance between the tenant and landlord. Key terms of your leasing arrangements will typically include, but are not limited to:

  • Area to be leased – a description of the premises including the use of facilities such as carparks, storage, amenities, etc.
  • Term of the lease – terms and renewal options which should coincide with the respective parties’ business and investment objectives.
  • Rent and outgoings – including the method and time for reviewing rent and the outgoings payable by the lessee.
  • Permitted use – allowing for the lessee’s intended use which may need to consider any proposed growth in business activities.
  • Fit-out and refurbishment – any fit-out permitted, the party responsible for costs and installation and requirements for removal at the end of the lease.

These are just some of the terms required in a lease and there are many other contingencies to consider. All provisions should be carefully negotiated and documented to ensure they meet the expectations and needs of both parties, and to minimise potential disputes down the track.

Retail leases in Victoria are those required for premises that are primarily used for the sale of goods or services to the public, for example, shops, cafes, restaurants, and hairdressers. Retail leases are governed by the Retail Leases Act 2003 (Vic), which provides additional protections for tenants in retail premises. The retail lease agreement and the negotiations (including specific disclosure requirements) must be compliant with the provisions of the Act.

We can assist with drafting, reviewing, and negotiating the terms of a proposed lease agreement as well as lease renewals, transfers, assignments, and sub-letting.

If you need assistance, contact one of our lawyers at [email protected] or call 03 9300 1077 for expert legal advice.