Property Law Essentials: Conveyancing, Settlements & Stamp Duty with Kim Oldroyd

In this episode, Renae is joined by Kim from QC Law for an eye-opening conversation about the legal side of property purchases and the costly mistakes that can derail your settlement. Kim delves into critical topics including sunset and sunrise clauses in off-the-plan contracts, explaining the new laws that protect land buyers in Queensland and why unit buyers still need to be cautious. She provides invaluable insights into contract terms that could leave you waiting up to five and a half years for your property to settle—or worse, see your contract terminated without your consent.

Kim shares a jaw-dropping story about clients who spent their $150,000 deposit on a boat just weeks before settlement, resulting in the loss of their $100,000 deposit and potential legal action for damages. This cautionary tale highlights the importance of understanding that refinance funds, deposit money, and any changes to your financial situation before settlement can constitute fraud if not properly disclosed. Her insights provide a deeper understanding of how critical communication between brokers, solicitors, and clients is throughout the property purchase journey.

In the final part of the episode, Kim discusses essential legal matters that every property buyer should know, including the importance of having a current will, understanding joint tenancy versus tenants in common, and the significant stamp duty savings available for separated couples with proper legal documentation. She explains how consent orders or binding financial agreements can save tens of thousands of dollars in stamp duty during property settlements after separation, and why self-managed super fund purchases require independent legal advice. With practical advice and real-world examples, this episode offers key takeaways for anyone navigating property transactions, estate planning, or family law property matters.

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