Sale and Purchase of Apartments - key issues - On Demand

Package includes:

On Demand CPD Module  l  Electronic booklet  l  PowerPoint Presentation

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

On Demand CPD Module

As the popularity of apartment living has increased, so have compliance issues in this space. Additional due diligence and advice is required when clients are buying apartments and it is vital that legal advisors get this right.

In this module, we will look at key disclosure obligations for unit titles and red flags when advising clients about purchasing or selling unit titled apartments.

In the context of Company Share apartments, we will ensure you are aware of the type of information purchasers might want to request, and the additional steps and documentation that are relevant to these types of apartments.

Topics covered will include:

• Disclosure requirements under the Unit Titles Act 2010
• Long Term Maintenance Plans and different “funds” under the Unit Titles Act
• Issues to look out for – earthquake strengthening, fire upgrades and weathertightness
• Builders reports – how relevant are they for apartments?
• Company Share apartments – things to be aware of.

Please contact us if you use a dial up internet connection.

Learning objectives

After completing this module you will:

• Be aware of common issues troubling apartments and Bodies Corporate.
• Be able to advise clients on issues impacting the sale and purchase of apartments.
• Know how much information is necessary prior to signing an Agreement for Sale and Purchase and settlement.

Electronic Booklet 

Authors: Laurie Pallett, Claire Tyler
Published: 5 March 2019
Pages: 52

Introduction

Apartment living is increasingly common, and for many people is a more affordable way to enter the housing market. For property lawyers, it is becoming more important to be able to advise on apartment purchases.

Some reviews will be more complex than others, depending on the nature of the development. It is important to know where to begin and end with the provision of advice and to make sure your review is tailored to the client’s needs.

This paper outlines the key areas involved from a legal perspective when a client is selling or purchasing an apartment.

PowerPoint Presentation

These are the slides included in the presentation.