Commercial Leases, Retail Leases And Property Transactions
A significant focus of Arnotts Lawyers is devoted to the management of commercial leases, retail leases, conveyancing and other property-related transactions. We regularly provide legal services to clients involved in the purchase and sale or real estate, the leasing of commercial property, and other property transactions. Peter Arnott, the principal of Arnotts Lawyers, has over 35 years experience in advising clients on conveyancing and property transactions.
Our conveyancing solicitors can assist clients who wish to buy, sell or lease or otherwise deal with residential or commercial property. Property transactions can be fraught with risk and by utilising the services of a conveyancing solicitor it is possible to minimise that risk. There is a substantial amount of legal work involved that our conveyancing solicitor can carry out on our clients’ behalf – from preparation of leases, to contracts for sale of land, mortgages, caveats and other related property transactions. Our conveyancing solicitors can provide you with the conveyancing services that are required to negotiate your property transaction effectively.
Conveyancing is not limited to transferring legal title in a property from one party to another. Our conveyancing solicitors assist with the preparation of leases, and in relation to disputes and other property matters.
The conveyancing process can involve some or all of the following steps:
- arranging, advising and assisting with building and pest inspections
- arranging, advising and assisting with a strata inspection report if the property is part of a strata scheme
- assistance with the arranging of finance if necessary
- examining and exchanging the contract of sale
- advice regarding the payment of the deposit
- arranging payment of stamp duties
- preparing and examining the mortgage agreement
- checking if there are outstanding arrears or land tax obligations
- finding out if any government authority has a vested interest in the land or if any planned development could effect the property (e.g. local council, Sydney Water, Roads and Traffic Authority)
- finding out any information that may not have been previously disclosed such as a fence dispute or illegal building work
- calculating adjustments for council and water rates for the property settlement
- overseeing the change of title with the Land and Property Information NSW
- completing any final checks prior to settlement
- attending settlement.
Conveyancing has become a part of daily life in New South Wales due to the sheer growth in our property market. Thousands of property transactions occur in Sydney each day. Our conveyancing solicitors can assist with a range of conveyancing services throughout Sydney and New South Wales and beyond. Our conveyancing lawyers can provide fixed fee and variable conveyancing fees and can also explain the conveyancing costs that are likely to apply to your transaction. These disbursements can include property reports and other conveyancing charges that clients need to budget for.
Another service that we offer is assistance in mediations. Mediation is an informal negotiation process in which a neutral mediator assists those involved in a dispute to achieve a settlement. We have assisted clients previously in successful mediations.
We also provide a wide range of litigation services. We have acted for clients in the CTTT, local courts, family courts, district courts, supreme courts, federal courts and a range of other tribunals. For example, in one case our retail client had an exposure of approximately $6 million and we were able to successfully extinguish the entire claim. Successful litigation tools were used such as a calderbank letter of offer and we retained the services of a competent and experienced barrister as well. For the investment by the client of several thousand dollars, the client was able to avoid a potentially disastrous claim of $6 million.
Some other examples of property transactions we have been involved in include:
Purchase of shares in company to obtain exclusive use of company title home unit and garage
Some of the older style home units are under company title. This means that they are not state government guaranteed. They are solicitor guaranteed. Consent must be obtained from the board of directors to purchase shares in the company which gives the purchaser exclusive use to a particular flat and car space or garage. There is much skill required in reading the memorandum and articles of association of the company. Careful consideration much be given to the contract and relevant searches must be made of the company to ensure that is it not in liquidation.
In our purchase client’s case, the purchaser had a successful settlement and has taken possession and is enjoying the acquisition of a property which is generally cheaper than strata title home units.
Fast food outlet and car yard purchase – transaction over $9 million
Our conveyancing solicitors handled the extremely complex contract. There were complex planning issues and title issues. There were also many issues relating to leases granted in favour of various tenants and there were also disputes heard by the Retail Leases Unit of the Administrative Appeals Tribunal. Settlement arrangements were complex. One of the issues considered carefully was that of GST and whether our client had liability to pay full GST or whether the going concern exemption could be utilised. There were also negotiations with one of the major supermarket chains concerning an agreement to enter into a lease which was dependant upon planning approval being obtained. The contract was negotiated on terms and conditions favourable to our client who was extremely grateful for the skill, care and attention given to the transactions.
Please contact Peter Arnott for all of your conveyancing and property law requirements.