Lexon Insurance

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Another Lexon Property Law Tip:

Do you act in leasing matters?

Watch out for the Property Law Act 2023 (Qld) changes that significantly impact a number of key leasing issues, such as the implied terms, liability on assignment of a lease, and lessor consent requirements. Precedents should be revisited and proforma advice templates will need to be updated.

Use Lexon’s Commercial Leasing packs to help manage these issues.

Another Lexon Property Law Tip:

If you do Seller Disclosure on an Option Agreement, you don’t have to do it again when the option is exercised? Right? Maybe.

Watch out for nominee clauses, where the Buyer in the Contract is not the same entity that was a party to the Option Agreement.

If you are acting Seller-side, also consider double checking that all Seller Disclosure requirements were fully complied with when the Option Agreement was signed.

Don’t get caught out – Lexon has a specific Option Agreements pack to help you as part of using the full Conveyancing Protocol.

Another Lexon Property Law Tip:

When acting in a conveyance, not all issues with Seller Disclosure will give the Buyer a right to terminate.

Use the Advice to Client – Termination Issues letter, as part of the full Conveyancing Protocol, to make sure the Buyer actually has a termination right, before attempting to exercise that right.

Otherwise, the Seller may allege wrongful termination and seek significant damages and/or specific performance from the Buyer.