- A Call Option gives the prospective buyer the right to buy the property from the seller.
CONVEYANCING AND PROPERTY LAW
Property law is a core area of our practice and we are equipped to assist with a range of property transactions, including leasing, sales and purchases.
Conveyancing
Buying or selling a property will likely involve one of your most valuable assets and it is important that you are aware of any legal risks, your rights and obligations. It is prudent to engage an experienced solicitor to ensure that your interests are protected and your transaction is handled efficiently.
Whether you are the buyer or seller, Assure Lawyers can help you throughout the process, including pre-contractual advice, structuring advice, negotiating the terms and conditions of the sale, preparing and/or reviewing the contract of sale and acting for you through to settlement.
Our conveyancing team attends to matters for buyers, sellers and property entrepreneurs. These include the sale of land, houses, apartments, off-the-plan purchases and house-and-land packages.
Leases
Assure Lawyers attends to residential leases, commercial leases and retail leases. Whether you are the landlord or tenant, you should be mindful of any legal risks and know your rights and obligations under the lease.
Our team can assist you with all aspects relating to your lease, including negotiating the lease terms and drafting and/or reviewing the lease agreement. We also assist and advise on lease renewals, assignments and/or transfers.
Joint ventures
A joint venture in relation to real estate commonly involves collaboration between property owner and developer to achieve strategic objectives. The property owner’s contribution to the joint venture is the property and the developer is tasked to improve or develop the property, it being their intention for the property to be sold at a profit for their mutual benefit.
Both parties should seek legal advice on the transaction and implement the appropriate protections to mitigate their risk. Assure Lawyers advises on joint ventures and attends to drafting, negotiating and/or reviewing joint venture agreements.
Options
An option agreement related to real estate gives a party the right to buy or sell a property within an agreed period of time.
- A Put Option gives the seller the right to sell the property to the buyer
- A Put and Call Option, as the name suggests, is a combination of the above.
It gives the prospective buyer the right to buy the property from the seller,
and the seller the right to sell the property to the buyer.
The Call Option is a method used by developers to secure their right to buy property for proposed developments. It provides an opportunity for planning, assessments, arranging finance and conducting due diligence.
Assure Lawyers advises on option agreements and attends to drafting, negotiating and/or reviewing option agreements, including the nomination and assignment of options.
Loans agreements and legal advice
We attend to reviewing, preparing and advising on loan agreements for lenders and borrowers, including security related to the loan.
Some important terms to consider in relation to a loan agreement include the following:
Some important terms to consider in relation to a loan agreement include the following:
- Purpose of the loan
- Loan amount and loan term
- Early repayment and extension of loan term
- Interest and repayment date
- Security and personal guarantees
- Priority of lenders
If borrowing from banks or other institutional lenders, it is commonly required or recommended that a guarantor or borrower must obtain independent legal advice in relation to the loan, guarantee, mortgage and other security documents.
We review loan documents, advise on the legal implications and provide a solicitor’s certificate (if required).
Please note that we do not provide financial advice or negotiate with lenders.