Property Law

When you borrow money from a lender (i.e. a bank) to purchase a property, the lender will obtain a mortgage over the property to secure a loan. This means that if you cannot repay the loan on time, the lender can sell your property to recover their money.

Mortgage and loan agreements can be complicated and can have severe repercussions if you do not adhere to the terms of the agreement.

Johnstone Crouse Lawyers can assist you with your mortgage and loan agreements by:

• concisely explaining the terms of your mortgage or loan agreement;
• drafting mortgage and loan agreements;
• negotiating the terms of the agreement;
• assisting clients in disputes regarding their mortgage or loan agreement; and
• providing Solicitor’s Guarantee.

Becoming a guarantor requires careful and thorough consideration of what it means for you and your financial interests. If a family member has asked you to be a guarantor for their loan, you are essentially agreeing that you will pay the borrower’s loan if they are unable to do so. If you cannot repay the loan, the lender may proceed to sell your assets and seek to recover any enforcement expenses.

This is why you must obtain independent legal advice before agreeing to becoming a guarantor.

Many banks and financial institutions require that guarantors obtain legal advice and provide a certificate called a Solicitor’s Certificate that they have been advised by a lawyer of their rights and obligations.

Johnstone Crouse Lawyers can make this process seamless for you by reviewing the loan documents and advising you on your obligations.

In general terms, a caveat is a caution or warning.

Caveats lodged under the Transfer of Land Act 1893 (WA) have a twofold effect until it is removed:

• a warning to a person searching the register of an outstanding equity claimed by the caveator against any land lease, mortgage or charge; and
• a statutory injunction preventing the registration of particular dealings with real property.

If you have an interest in a real property, you may want to preserve and protect your rights by register a caveat on that property.

Johnstone Crouse Lawyers can advise you on whether you can registrar a caveat on a particular property and assist you with the registration.

Stamp duty or ‘transfer duty’ is a tax imposed on the sale of a residential property. The amount of stamp duty you are required to pay is dependent on the price of the property, location and whether you are a first home buyer.

If you are selling your residential property, contact us to find out how much you are required to pay and under what circumstances you are not required to pay stamp duty.