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Type: Posts; User: Ivan McIntosh

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  1. Replies
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    In practical terms, the bank is not going to...

    In practical terms, the bank is not going to allow you to transfer the property without retaining the right to use the property as security.

    There are also time periods before creditors are unable...
  2. Valuer valuation will suffice, not agent or bank...

    Valuer valuation will suffice, not agent or bank valuations. Valuing the effect of a hypothetical vs present reality is specialist work....I just don't think anything else would hold sufficient...
  3. Did a conversion early this year, and asked the...

    Did a conversion early this year, and asked the owner the approx cost inc surveying and council costs; turned out to be around $20k. This was a two dwelling cross lease with an easement for ROW and...
  4. It's not unknown for banks to make mistakes on...

    It's not unknown for banks to make mistakes on the loan documents, probably happens on a transaction I'm involved in once a year or so, usually by getting the discount margin wrong. Sometimes it's...
  5. Oh yes, I get that, Anthony. It was more that I...

    Oh yes, I get that, Anthony. It was more that I thought about the phrase "money well spent" but couldn't help thinking it wouldn't be well spent, that it would be a little bit of a disaster. I...
  6. True Anthony, I'd lend a hundred or two to most...

    True Anthony, I'd lend a hundred or two to most people I know. But it would be disheartening to have them just never mention the money again and not pay it back.
  7. I guess that depends how good a friend they...

    I guess that depends how good a friend they are...from the OP it doesn't sound like they are that close. There are some people in my life that would just be given money to help buy a house no...
  8. I really think you shouldn't have a bar of this. ...

    I really think you shouldn't have a bar of this. It's a terrible return for the level of risk (which is very high). You won't be able to get any kind of security against the property, because if...
  9. Thanks for your kind words, PTcruz. Briefly...

    Thanks for your kind words, PTcruz.

    Briefly looking at your post I did not correctly understand the situation you were describing, so that is my mistake. I'm not sure that misunderstanding the...
  10. I'd be astonished if this got anywhere....there...

    I'd be astonished if this got anywhere....there didn't seem to be any chance of it succeeding whatsoever. This kind of thing only potentially works when, for example, a property that used to exit...
  11. Good grief. The only time I would consider this...

    Good grief. The only time I would consider this is when it is a settlor passing a property on to a trust they've set up...something like that where both sides are in some way related or both...
  12. [Comments on the Fencing Act not being applicable...

    [Comments on the Fencing Act not being applicable have been deleted here, as I misunderstood the situation being described]

    Sometimes provisions relating to fencing are included in the Easement...
  13. Replies
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    It's fairly transactional. It's not like your...

    It's fairly transactional. It's not like your client is purchasing a house it doesn't know much about. Having said that, the banks can generate up to four pages of items to tick off. Cost will...
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    Don't think I can comment on the NTF and what...

    Don't think I can comment on the NTF and what Council might or might not be happy with; John the Builder might know more.

    Doesn't that leave you with the problem that the lease as written includes...
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    2,243

    They might not have to provide plans and specs,...

    They might not have to provide plans and specs, but you haven't said they deleted the bit where they have to get your consent to alterations...and they should still have to tell you what they are...
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    The Agreement to Lease should prevail regarding...

    The Agreement to Lease should prevail regarding removal of the office area. Clauses like that don't necessarily have to be transferred into the Deed of Lease if they cover things that happen, eg...
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    I was imagining a family court judgement, but now...

    I was imagining a family court judgement, but now not so sure.

    Like Davo, my cynical nature suspects that the owner owed money is not putting up their half of the unit title at the same time in...
  18. Replies
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    3,680

    Creditor, often the Council. A creditor can get...

    Creditor, often the Council. A creditor can get a charging order against a property based off a judgment, then a writ of sale.

    More rarely it is a High Court run mortgagee sale. Very rare now,...
  19. Replies
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    PS the game changes if they add any new land into...

    PS the game changes if they add any new land into the subdivision. Then they're trying to use easements given in favour of the original land for new land, which is a no-no.
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    Sounds more to me like three freehold properties...

    Sounds more to me like three freehold properties all owning a strip 1/3 the width of the shared accessway and easements over the other two strips, which is relatively common. If it is a crosslease...
  21. No, does nothing of the sort. They haven't...

    No, does nothing of the sort. They haven't really even asked for a variation...it's more sounding out the vendors likely reaction if there is something in the builders report. However, if they did...
  22. Wayne and Anthony are right, Aston you are quite...

    Wayne and Anthony are right, Aston you are quite wrong on the status of the original agreement unfortunately. If someone signs a variation to the agreement what they are doing is making you an offer...
  23. I've seen a bank act in this situation, not by...

    I've seen a bank act in this situation, not by calling the loan in, but issuing a default notice and requiring them to come up to 40% deposit. Which may as well have been the same thing. I'm not...
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    As well as being a good way to get the Act's...

    As well as being a good way to get the Act's maximum penalties in - and I really do sympathise with owners dealing with recalcitrant payers - that's a wonderful method of abusing majority control...
  25. I would be surprised if it wasn't a case of...

    I would be surprised if it wasn't a case of mutual easements....but if these strips are individually enough for a driveway each then it might well be as you describe. Then, yes, he could keep you...
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