Investing in real estate at any stage of life involves risk. That is why it is vital that you understand the legal consequences and obligations you may be taking on depending on the type of property you are purchasing, in the context of the circumstances in which you are purchasing and the interest you have in the land for example:
- registered owner of residential or commercial real estate
- member of an owners Corporation related to your ownership of real estate
- a lease interest in a retirement village
- a licence arrangement in a caravan park
- buying off-the-plan in new developments
A question that often comes to mind when purchasing real estate is ‘conveyancer vs lawyer’ what’s the difference?
Conveyancers have detailed knowledge of one area of law, being property law. Whereas lawyers have specific knowledge about property law but also a broad knowledge of the many areas of law that can be relevant to your ownership of real estate including –
- structuring of the ownership
- tax implications of owning, buying and selling real estate
- leaving it to relatives and future generations
- family law considerations and protections
In addition a significant advantage of using a lawyer is that we can provide any legal advice that you require before or when complications arise.
Through the high level of personal interaction with our clients we are able to understand your needs in the transaction and to offer sound advice based on good local knowledge which can be vital when making such a large decision like investing in real estate.