There are 2 Alternative ways to own Property in Australia: Joint Tenants vs Tenants in Common
In a Joint Tenancy, all of the owners own the entire property. If one of them dies, the survivor(s) remain the owner of the property – it does not matter what any Will might say until there is only 1 registered owner.
In a Tenancy in Common, each owner has a defined share – 50%, 30%, etc. If an owner dies then their share in the property passes accordingly to the terms of their Will, or if they do not have a Will, according to the rules about intestacy. (Joint Tenants v Tenants in Common)
If you don’t know what your ownership details are, we can do a Title Search and find out for you. It is possible to change from one type of ownership arrangement to the other, although there could be some stamp duty to be paid depending on your individual circumstances.
As its name refers, the property lawyer is an expert in property laws. This lawyer must have excellent proficiency in the Construction and Housing Code. It is possible to find this lawyer Aylward Game Solicitors. Like lawyers in foreigners’ law, lawyers in family law, or lawyers in labor law, this professional is established in different Brisbane areas at Aylward Game Solicitors.
The lawyer working in the property must master the aspects of private, public property laws and property law act, and the Town Planning Code. Also, property laws are a branch of law that contracts with the sector relating to the property.
The property lawyer is a skilled lawyer who resolves cases related to property. His intervention is crucial when his client’s liberties are threatened or faced with a complicated situation.
Additionally, the Family Law Act allows the Courts to alter the arrangements completely in the event of a Property Settlement Dispute, and the details of the ownership arrangement are separate from your responsibility to pay any mortgage payments.
Article Source: Property Lawyers Brisbane
