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Property Lawyer Secrets Did you know that debt transfers to you

Property lawyer secrets: Did you know that debt transfers to you? It is important when you sign a contract for your solicitor to conduct searches on the property. The general searches on the property will be for land tax, rates, water, and body corporate if there is a body corporate on the property. The reason this is important is because once settlement happens and your name goes on title, any outstanding amounts for rates, water, land tax, and body corporate will transfer to you, the buyer.

Why it's important to get your solicitor involved early is to make sure they have the time to conduct those investigations in searches and make sure the seller pays their fair share of any outstanding amounts before settlement or as part of settlement. If you'd like more information on how you can be impacted by outstanding amounts on the property or what the searches reveal in addition to outstanding amounts, please reach out to our friendly team.
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Lead Legal Services Pty Ltd (ABN 86 640 514 558)
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Our Recent Reviews

Judith Williams Avatar
Judith Williams
23 Nov 2023
Great company to deal with during my purchase, Erica Gruen (who was my paralegal) especially. Erica made the process easy to understand and answered all my questions (of which, there were many!).
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Fate Avatar
Fate
15 Nov 2023
Happy with the service, although it wasn't always straight forward. Everything ok in the end - and that's what's important.
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Chiran Attanayaka Avatar
Chiran Attanayaka
15 Nov 2023
Very professional service, every time my solicitor went on leave the other one emailed me and took over the file, kept sending important reminders, continuously followed up with the sellers solicitor, bank etc. Great friendly service.
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