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Pre-Contract Considerations- Selling A Property
The process of handling the sale of your property is known as CONVEYANCING and we can handle this for you in a smooth and timely manner. However, before an agreement is even signed there are
Sale and Purchase Agreement – Selling A Property
The SALE AND PURCHASE AGREEMENT is the crucial document to your house sale. It is important to know the stages in the formation of a contract, and, even more, important that you get appropriate advice
The Price
The PRICE you chose to sell your property is likely to be a reflection of a number of different variables including:Current market values of similar properties;The level of debt you currently have owing against the
The Contracting Process – Selling A Property
The contracting process begins with the Purchaser, making an OFFER to you to purchase your property. This OFFER may be made with a finite response date so that you will need to consider the OFFER
Conditions – Selling A Property
As well as including various warranties relating to the state of the property on settlement and your obligations owed to Council and Territorial Authorities having been met, the standard-form agreement also provides a clause which
Deposits – Selling A Property
There are no specific requirements regarding the due date for payment or the quantum of a DEPOSIT payable on a purchase of real estate. The only definite implication is that if a deposit has not
Conditional Contract Stage- Selling
Assuming you have gone through the process, and a SALE AND PURCHASE AGREEMENT has been signed, you will now be at the CONDITIONAL CONTRACT stage.This means you have a fully binding agreement in respect of
Unconditional Contract Stage – Selling A Property
Once you have an UNCONDITIONAL CONTRACT, the process is one of handling the actual SETTLEMENT of the Sale. As such, our team provides the following services to you:Liaising with the Purchaser’s solicitor to ensure all required
Important Information Selling
While the above information has hopefully provided you with an overview of the process to selling your current property, there are a number of things that you should be aware of to anticipate during the
The Settlor
The SETTLOR is the person or persons who initiates the TRUST. In a standard FAMILY TRUST situation this would normally be the husband and wife, partners or individual who is wanting to protect their assets.
The Trustees
The TRUSTEES are the legal owners of the TRUST'S ASSETS and are the people who decide what happens with those assets. They make the day-to-day decisions on the maintenance of the TRUST and have unfettered
Independent Trustees
We recommend that every Trust has an independent Trustee who is someone who does not derive a benefit from the assets of the Trust, but acts as a co-Trustee with the other Trustees. This helps
The Beneficiaries
The crucial third party to the Trust Deed are the Beneficiaries. These are the group of people who the Trust is formed to benefit over time. With a standard Family Trust, this would normally include
The Appointors
The Appointors are the persons who hold the Power of Appointment. The Power of Appointment is the power to hire and fire the Trustees. This is therefore the ultimate control over the trust, and is
The Protectors
A further, but often unutilised, role in a Trust Deed is that of a Protector. The Protector can act in a way similar to an Independent Trustee but effectively with the power to veto certain
The Trust Deed
The actual formation of the Trust occurs when you have decided on who will be the parties included as Settlors, Trustees, Beneficiaries, and Appointors. A Trust Deed is then draw up and signed by the
Transferring Assets into your Trust
The purpose of forming a Trust for asset protection is for transferring your assets into it so that they are no longer in your personal name. We often use the saying: “You are trying to make yourself
Trustee Duties
As a Trustee you need to be aware that you are liable for your actions in respect of the assets of the Trust and can potentially be sued by Beneficiaries if you do not undertake
Business Structuring
If you are about to embark on your first journey into running a business, then one of the first things that you need to consider in the early stages is what structure you should use.
What Assets should be transferred?
Given that a Trust provides asset protection by way of people gifting their assets to the Trustees, it is important to consider what actual assets should be transferred to a Trust. While there is normally