Subject to mandatory vendor disclosure obligations (see Overview — Vendor disclosures), any implied warranties or warranties included in contracts of sale, and the law relating to misrepresentations...
Each jurisdiction has one or more standard form contracts that are widely used by lawyers, conveyancers and/or real estate agents and which are published by the law society, real estate institute and conveyancing...
The contract for sale is the primary document entered into by a vendor and a purchaser. It is a legally binding agreement under which the vendor agrees to sell, and the purchaser agrees to purchase, a...
The sale of land ultimately involves passing title from the vendor to the purchaser. However, it is important that the parties, and the resulting contract, are clear on what is physically being transferred...
Contracts for the sale and purchase of land must be in writing, and executed by all parties, although equity may enforce oral contracts under the doctrine of part performance. (s 54A, Conveyancing Act...
Introduction What are the benefits of e-conveyancing over paper-based conveyancing? Electronic conveyancing (or e-conveyancing) benefits legal practitioners and the relevant parties in a number of...
The Foreign Acquisitions and Takeovers Act 1975 (Cth) (the Act) imposes limits on foreign ownership of Australian real estate. It is supplemented by the Foreign Acquisitions and Takeovers Regulation 2015 (Cth) (the Regulations).
Authored by the LexisNexis Legal Writer team. Updated by Sara Hatcher, Consulting Principal, Keypoint Law (NSW) and Simon LaBlack, Director, LaBlack Lawyers (Qld).
This guidance note only considers the application of the Act and Regulations to Australian land, and not other actions which might be restricted or prohibited by the Act (eg acquisitions of Australian owned businesses).
For information specific to leases and licences, see Guidance Note: Foreign investment in leases and licences.
For more guidance on foreign investment (including investment in assets other than Australian land), see Practical Guidance Mergers & Acquisitions guidance (subscription required), Related legal considerations — Foreign Investment Review Board: Overview — Introduction to Australia’s foreign investment approval regime.
The Act restricts foreign persons from acquiring certain interests in certain types of Australian land.
Some exceptions apply to certain foreign persons or depending on the types or values of the interests being acquired.
There are different categories of Australian land depending on its use and location (eg residential, commercial, agricultural etc). Different monetary thresholds apply to the different categories of land before the foreign investment framework restricts the acquisition (and different monetary thresholds can apply depending on where the foreign person is located, due to free trade agreements or other government policies). Some foreign persons can acquire some, but not other, categories of Australian land without being restricted by the Act.
The Foreign Investment Review Board (FIRB) can provide conditional or unconditional exemptions or no objection notifications (commonly referred to as approvals).
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