Category Archives: conveyancing melbourne

What is a section 32?

auction

If you are looking at buying a Melbourne property, you are likely to have heard of a section 32 statement. This is a legal document known by various names, including vendor’s statement. It is compulsory for a property seller to provide the buyer with a section 32 statement, which is usually prepared on their behalf by their conveyancer. The document will outline things that you, as a buyer, need to know before proceeding with the sale. This includes information on how you can use the property, for example, its zoning as decreed by the local council. It will also contain information on rates that the property owner is required to pay. As well as mundane matters such as details of easements on the property, the section 32 will also inform you of any debts held against the property. When you purchase a property, you do not want to unwittingly purchase the previous owner’s debt.

It is a legal requirement for the information contained in the section 32 document to be correct. For example, the owner cannot falsely claim that the property can be used residentially if it is zoned in a commercial area with no exemption. Even so, it is important to have this document checked. It is common for buyers to hire a conveyancer for this very reason. A conveyancer is more than a second pair of eyes; they will know what to look for in the section 32 to check that it is all above board. They will be aware of any recent changes to requirements of the document. A conveyancer can also take charge of other legal aspects of your property purchase, as sorting out the complicated paperwork involved in a purchase or sale is too ambitious for someone without legal training.

You should now understand what a vendor’s statement is, why you need one, and how to go through a Melbourne conveyancer to get one.

What is conveyancing?

real estate

The quirks of real estate law can be baffling to newcomers. Hiring a conveyancer can help you navigate your journey into property purchase or transfer, but first you have to find out exactly what conveyancing is.

A conveyancer is someone who gives guidance in the process of transferring property, sorts out the legal paperwork and organises settlement on your behalf. Property law is slightly different depending on where you are; let’s take Melbourne as an example location for our fictional property issues.

Real estate prices in Melbourne are always on the up, so some homeowners decide to capitalise on the large block they are sitting on by subdividing their property. Subdivision is not quite as simple as drawing a line in your backyard. To ensure all the legal aspects are taken care of, you would hire a conveyancer to assist you in the process. Crucially, your conveyancer will be able to organise the splitting of your property into two titles. You would also engage the services of a conveyancer for the opposite of subdivision, which is consolidation.

You would also seek assistance from a conveyancing firm if you were buying or selling real estate. For a buyer, some of their key functions are to prepare and lodge forms relating to the sale and transfer and calculate taxes that you need to pay on the property. For a seller, a conveyancer will organise all legal documents and can even talk to the buyer on your behalf.

Conveyancers can also be consulted when transferring property within a family. Many a feud has been had over property, so it is wise to ensure all the legal matters are watertight.

That should give you a good start on property conveyancing in Melbourne, and how they can help you in different property matters including sale and purchase.