Understanding Rescission of Contracts

Woman tearing up contract

In legal matters, the signing of a contract marks the point at which parties involved are bound by its terms and conditions. However, there are circumstances under which a contract may no longer be binding, and one of these is through rescinding the contract.  Rescission essentially means the cancellation of a contract. It’s crucial to […]

The who, what and why of appointing a Power of Attorney

What is a Power of Attorney?    A Power of Attorney is a legal document that you can use to designate someone or a trustee organisation to manage your assets and make financial and legal decisions on your behalf.   There are two types of Power of Attorney documents in New South Wales.   An Enduring Power of […]

Why should you have a Will?

Dying Intestate

Wills. You’re never rich enough to live (or die) without one. Every day we speak with people from all walks of life about their Estate Planning documents, including your parents, the barista preparing your coffee or your kids primary school teacher. No matter who you are, regardless of your identity, age or status, everyone needs […]

Registering Commercial & Retail Leases on Title

Are you a landlord or a tenant and you have a retail or a commercial lease, that has a term of three years or more inclusive of your options? If so, then as a landlord you may have a legal obligation to register the lease on the title of your property and a tenant may […]

Building Contract Review: Be Aware of the Risks.

Are you about to build a new home? What can you do to protect yourself? The news is currently filled with “builder collapsing, leaving buyers out of pocket, without any hope of recovery.” Before signing that building contract, seek legal advice to understand the legal document that you are signing. At Castrikum Adams Legal we […]

Changes to First Home Buyer Initiatives from 1 July 2023

The NSW Government has expanded the First Home Buyer Assistance Scheme (FHBAS). From 1 July 2023, the transfer duty exemption threshold for new and existing home purchases by eligible first home buyers will increase from $650,000 to $800,000, and the concessional rate will increase from $800,000 to $1 million. From 1 July 2023, access First […]

Perusal and Preparation of Contract is Paramount

Prepare properly or you could pay in the end! Whether you are a purchaser, vendor or even agent, the purchase price is generally the biggest determining factor in a sale. Even if the property is prepared perfectly, marketed perfectly and is ripe for the perfect price, if a dwelling is not approved, there are easement […]

Resilient Homes Program

The Resilient Homes Program (RHP) will offer eligible homeowners one of the three available measures, based on expert property assessments, flood impact severity data, safety risks and potential future flood levels: Home buybacks – the homeowner receives a payment for the purchase of their house and land, or Home raising – funding is committed to elevate liveable […]

Getting Older & Getting into the Workforce

The experience of a 9-5 job. Last week, we had the pleasure of having Ivy in our office for her work experience, here’s what she had to say: I do have an after school job but it’s a pretty relaxed job where I don’t have to be there on a set time or have a […]

Foreign Persons and Temporary Residents Purchase of Residential Land in New South Wales

Are you a foreign investor or temporary resident wishing to purchase residential property in Australia? If that is you, before making offers on properties, you need to determine not only whether you can purchase residential property in Australia but also what costs are involved. Foreign purchasers are generally prohibited from purchasing established dwellings, with exceptions. […]