All Topics / Creative Investing / Call/Put Options on Real Estate

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  • Profile photo of VicInvestorVicInvestor
    Member
    @vicinvestor
    Join Date: 2013
    Post Count: 2
    May 6, 2013 - 1:43 am

    Do you require Section 32 statement to legally enter into Call option over Real Estate?

    Which laws outline the regulations relating to options contracts?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 7, 2013 - 12:37 am

    S32 only applies in VIC.

    Yes. You will need a valid contract of sale at the time of the option. You need to know what you are agreeing to when the time comes to exercise.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of fragarcolinfragarcolin
    Member
    @fragarcolin
    Join Date: 2013
    Post Count: 16
    May 30, 2013 - 6:43 am

    Definitely you require it….

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 1, 2013 - 12:45 pm

    Yes in Vic you will need one.

    Also remember in Vic Stamp duty is paid on the option premium.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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