A vendor would unlikely accept such a condition other than for a few days. Otherwise they could be locked in with you still trying to sell.

Another advantage of moving in initially is that the property could be CGT free even while you rent it out later and still enable you to claim all the usual expenses.You may also be able to take in a boarder during the period it is your main residence to help with expenses.

I imagine that would be a capital expense and could be deductible against any capital gain/loss

Tinsel777 wrote:
Here is a link to a letter from the former federal Attorney General confirming what I have just said about the non recognition of local councils. http://www.larryhannigan.com/Attorney_General_Referendum_Letter.pdf 

This letter says the constitution doesn't recognise local government. This is true. But does it mean all local go…[Read more]

Tinsel777 wrote:
Ok, the information on variable rates:For a loan contract or any agreement under Common Law there are eight essential elements.There must be – (1) an offer;(2) acceptance;(3) sufficient consideration;(4) capacity to contract;(5) intention to enter legal relations;(6) legality of purpose;(7) genuine consent; and( certainty…[Read more]

The constituion is really legislation. It is just legislation that out ranks other legislation. So the Commonwealth couldn't enact laws that are contrary to the constitution.

Tinsel777 wrote:
Hope this answers one of your questions regarding constitutional law ruling over all.In September 5th 2006 the Case of – Forge versus Australian Securities and Investments – all seven High Court Judges stated unanimously that the Constitution reigns supreme.

Thanks for the reference, but I didn't ask such a question. 

Also please give an example of common law over ruling legislation

Sorry to have offended you but it just doesn’t make sense. All lawyers study constitutional law as a compulsory subject so I have studied it in depth but it is not an area I am interested in

If there were state laws contradicting the constitution then they would be invalid and they would quickly be challenged in the high court.

Leaving the…[Read more]

mcgrandles wrote:
hi have a person interested in my house but has not put in an offer but has asked for a contract of sale to be sent to him then he will make an offer after his solicitor has gone through it im very confused ? i thought you had an offer first then if you accept that offer contracts are then drawn if i do contract first what…[Read more]

That is the most ridiculous thing I have read in the past hour!Legislation takes precedent over common law and the HIgh Court is the only court that has jurisdiction to hear constitutional matters.Who would be making the death threats? What recent murders could be linked to keeping the status quo? Do you think the reservice bank has a hit squad or…[Read more]

I am a lawyer so am intereste in your views.On what basis can banks charging variable interest rates illegal? If this is the case why hasn't someone mounted a challenge? I recall something in the  media about it a few years ago now but never looked into it.

Hi TinsellI am not saying you definitely need a licence but look into the laws of the State you will want to act in first. You may need a real estate licence or a buyer's agent licence.No sure how the 'free people' bit fits in either. The laws are there to, allegedly protect the people and maintain standards. You could imagine how it would be if…[Read more]

Are you licensed to charge a finders fee?

jasedc5r wrote:
I was wondering if I would still be able to finance under my name and purchase the property under a family trust?If this is possible, what problems will I have with tax claims? 

Remember the trust is not a legal entity. It will be the trustee that is owning the property not the trust. So it should be the trustee borrowing the…[Read more]

Hope you are not trying to set everything up on your own.Read this recent interesting case Aston (Aust) Properties Pty Ltd & Ors v Commissioner of State Revenue (Taxation) [ 2012] VCAT 48  (9 January 2012)http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/vic/VCAT/2012/48.html?stem=0&synonyms=0&query=title%28%222012%20VCAT%2048%22%2911 Trustee c…[Read more]

Move in for a while and then rent it. Benefit could include:- less stamp duty- FHOG- CGT exemption- All the income tax deductions too (after renting)

I think it is generally best to own the main residence in the name of the person who is less likely to be sued. This is often the wife, but not always.Then for investments in growth assets such as property you need to weigh up land tax and other negatives and then if you do go ahead a use one then set this up under a company as trustee for a…[Read more]

Transferring the house into your name will result in stamp duty in NSW. This will be assessed on the value of the transferred amount at market value.This won't result in much asset protection at all. Have a look at the Bankruptcy Act sections 120 and 121. If you transfer it without consideration for asset protection purposes it can be clawed back…[Read more]

Nope. See your lawyer