Allied Lawyers & Conveyancing

15/12/2025

28/02/2025

Q: “Does a Purchaser need building insurance before settlement?”

A: In Victoria, the risk in the property remains with the Vendor until settlement is completed. This means the Vendor carries full responsibility for any damage or destruction to the property that occurs before settlement, regardless of the cause.

A Vendor must hand over the property in the same condition as when it was sold, except for fair wear and tear. If any damage occurs before settlement, the Vendor must either repair it or face potential legal consequences, including the possibility of the purchaser rescinding the contract under certain circumstances.

It’s a common misconception that buyers need immediate insurance coverage after signing the contract. However, Victorian law clearly places this responsibility with the Vendor until settlement is completed. The transfer of risk occurs simultaneously with the transfer of title at settlement.

27/02/2025

A Family Legacy of Legal Excellence:

Since 1989, Allied Lawyers & Conveyancing has been more than just a legal firm - we’re a family-run business committed to serving Melbourne’s southeast communities.

Our Story:
For over three decades, our practice has grown alongside the communities we serve. From our first office in Rosebud, to our current presence in both Frankston and Mount Waverley, we’ve maintained the personal touch that only a family-run business can provide.

We treat your legal matters as if they were our own, bringing 36 years of dedication, trust, and local expertise to every client interaction.

26/02/2025

Inactive Owners Corporations: What Property Owners Must Know

An inactive owners corporation still exists legally even if it’s not collecting fees or holding meetings.

This means legal obligations continue despite:

• No meetings being held
• No fees being collected
• No maintenance schedule
• No active committee

Key Challenges:

1. Insurance Issues
• Common property remains uninsured
• Individual liability exposure
• Potential mortgage breaches

2. Property Maintenance
• No formal maintenance program
• Unclear responsibility boundaries
• Shared facilities deterioration

3. Sale Complications
• Difficulty obtaining certificates
• Incomplete records
• Buyer concerns

Solutions Available:
• Reactivation procedures
• Special resolution processes
• Legal structure updates
• Insurance arrangements
• Maintenance agreements

25/02/2025

Term of the Day: “Caveat Emptor”

Definition: “Let the buyer beware”

This legal principle means buyers must exercise due diligence when purchasing property. While Victorian law provides some protections, buyers should still exercise caution. Key areas for investigation include:

Physical Inspection:
• Building structure
• Pest inspections
• Hidden defects
• Property boundaries

Legal Checks:
• Planning restrictions
• Building permits
• Council zoning
• Owners corporation rules

Financial Due Diligence:
• Outstanding rates
• Body corporate fees
• Utility connections
• Future assessments

Visit our experienced team:
Frankston: (03) 9783 6299
Mt Waverley: (03) 9807 1444

24/02/2025

Frankston Area Market Update: February 2025

Local Market Insights:
The Frankston region continues to attract buyers seeking lifestyle and value. With improved infrastructure and amenities, including the completed Frankston Hospital expansion and enhanced public transport connections, the area has seen steady growth.

Frankston Area Property Statistics: February 2025

Market Performance:
• Median House Price: $780,000
• Annual Growth Rate: 4.2%
• Average Days on Market: 32
• Auction Clearance Rate: 65%
• Rental Yield: 3.8%

Our Frankston office at 467 Nepean Highway has served the local community since 1989.

22/02/2025

How to Choose Your Conveyancer:

1. Check Qualifications
Look for firms that employ solicitors, not just conveyancers.

2. Verify Experience
Choose firms with proven track records.

3. Assess Communication
Ensure they’re responsive and proactive.

4. Consider range of Services
Look for comprehensive legal support that extends beyond the conveyancing process.

5. Review Insurance
Check professional indemnity coverage.

Our experienced team checks all of the above ✅

Frankston: (03) 9783 6299
Mt Waverley: (03) 9807 1444

21/02/2025

Q: Why do I need a Purchasers Caveat?

CAVEAT - a small price to pay 🔒

We generally recommend for a caveat in the purchaser’s name be registered on the title of the purchase property to protect their rights.

By doing so, you will be telling anyone else who tries to deal with the property that your rights come first.
You are protecting their equitable interest pursuant to the purchase contract.

If you do not have a caveat on the title there is nothing to stop the vendor from selling or mortgaging the property or someone else making claim to it.
This is especially relevant in the safeguard of your deposit monies, which may be released to the vendor prior to settlement.

A caveat would prevent the vendor from increasing their mortgage, or other parties making registered claim against the title ahead of your entitlement. Such an event could compromise the property’s equity to cover your deposit paid to the vendor.

The caveat is the title system’s safety valve which provides you with pre-emptive protection of your rights and legal interests pending completion of the agreement and registration of title into your name. Claims against a vendor during the contract period are common and the failure to caveat is considered a high-risk tactic which can cost a purchaser dearly.

The caveat automatically lapses upon registration of your name on title immediately following settlement.

20/02/2025

Victorian Property Growth: A Historical Perspective

The Victorian property market has demonstrated remarkable resilience and growth over the decades, with Melbourne house prices historically showing a pattern of doubling approximately every 10 years. This consistent growth trajectory has been supported by several key factors that continue to influence our property market today.

Population growth has been a significant driver, with Victoria consistently attracting new residents both domestically and internationally. This sustained population increase, coupled with ongoing infrastructure development across the state, has contributed to property value appreciation in both metropolitan and regional areas.

The stability of property as a long-term investment continues to attract investors, with strong rental demand providing additional income potential. Infrastructure projects, urban development, and community facilities further enhance property values in developing areas.

19/02/2025

Victorian Stamp Duty Rates (2025):

Standard Residential Property:
• Up to $25,000: 1.4%
• $25,001-$130,000: $350 + 2.4%
• $130,001-$960,000: $2,870 + 6%
• Over $960,000: 5.5%

First Home Buyers:
• Full exemption up to $600,000
• Sliding scale $600,001-$750,000
• Must be principal residence

Foreign Purchaser Additional Duty:
• Extra 8% on residential property

Contaxt our experienced team:
Frankston: (03) 9783 6299
Mt Waverley: (03) 9807 1444