NSW Property Law: Keeping Ahead of the Changes – 5 program video webinar series

Practice and Procedure in Conveyancing: Key Developments and Recent Updates

It’s never a dull moment in the conveyancing world and the usual judicial and legislative developments have been supplemented by process changes arising as a result of the impact of COVID-19 on practice and procedure. This session will provide an overview of some key legislation, cases and important changes in the sector, including:

• Rule changes to contracting, witnessing and other conveyancing procedures
• Standard Contract of Sale amendments/new edition
• New rules for the issuing of occupation certificates
• Off the Plan sales disclosure requirements
• The impact of the decision in Deligiannidou v Sundarjee [2020] NSWSC 437 on funds transfer
• Developments in PEXA practice

Tax, Duty and Other Charges: Developments and Updates in the Property Industry

The usual changes to taxes, duties and other revenue raising financial imposts have been recently supplemented by financial relief resulting from the impact of Covid-19 on both the financial and property markets. This session will provide an update on these changes at both a state and federal level, including:

• Removal of the main residence CGT exemption for non-residents
• CGT Withholding tax for foreign residents
• Changes to GST withholding rules
• Strata building bonds for developers
• Stamp duty changes for first home buyers
• Changes to the Duties Act for options
• Land tax reductions for landlords
• State Revenue Legislation Amendment (COVID-19 Housing Response) Bill 2020 – concessions for land tax and duty on specific transactions
• State Government proposal for stamp duty phase-out

Key Developments and Recent Updates in Commercial Leasing Law and Practice

Notwithstanding that COVID-19 has had caused significant upheaval in the leasing sector, standard leasing processes and relationships continues to be the subject of legislative change and case law. This session provides practitioners with an overview of developments in the industry, including:

• An overview of the legal principles considered in recent retail and commercial lease cases and how these cases apply to day to day leasing practice
• Recent changes in retail leasing practice including the new NSW Retail Tenant's Guide
• Overview of recent cases dealing with leasing issues relating to the COVID 19 pandemic and how to implement these in your leasing practice

Contract Termination in a Volatile Market

Uncertain economic times have led to volatile market conditions and a consequential rise in purchasers seeking to terminate their contracts. This session examines a number of scenarios and practical steps to minimise risk and manage the fallout when a purchaser seeks to terminate the contract, including:

• Setting the scene – repudiation and rescission explained

• Rights of rescission under the Standard Contract for the Sale and Purchase of Land
• Common law rights – the Flight v Booth principle: Smogurzewski v AIT Investment Group Pty Ltd [2020] NSWSC 490; Victorsen v Easy Living Holdings Pty Ltd [2019] NSWSC 1721
• Rights of rescission for a change to a “material particular” in off the plan contracts – when does it apply?
• Application of the Australian Consumer Law – can the misleading and deceptive conduct provisions support a rescission claim?
• Breach of prescribed statutory warranties in the Conveyancing (Sale of Land) Act
• The doctrine of frustration – is it an option?
• Rescission or damages? Factors to weigh up in making an election
• Drafting tips for special conditions and other strategies to enable and protect purchasers.

Red Flags and Dodging Bullets in Caveat Lodgement

As a result of process changes and a recent decision of the NSW Supreme Court, the responsibility for making a good and valid claim to a caveat has shifted from the client to the PEXA user who certifies and lodges the caveat. This session will provide a deep dive into caveats and what practitioners can do to not only protect their clients but minimise their own risks, including:

• When does a caveatable interest arise? Legislation and relevant cases discussed
• Protecting an interest or a device to extract an advantage? The importance of doing the due diligence before embarking on caveat lodgement: Boensch v Pascoe [2019] HCA 49; Mayrin DM Pty Ltd v Kaiyu Deng [2019] NSWSC 1552
• Why an assessment of the effect of the caveat is important
• Removing a caveat – withdrawal, lapse and court orders
• The new normal – caveat registration by “tick a box”
• How PEXA has changed practice and risk – a study of the decision in Guirgis v JEA Developments Pty Ltd [2019] NSWSC 164 and its implications for PEXA users
• The legal and other consequences of improperly lodging a caveat
• Practical guidance for practitioners to minimise risk in caveat registration.