1 / 6

Legal Procedure of Land Purchase and Use

In Australia, there is not a single piece of legislation that specifically addresses the sale of agricultural property. The same conveyancing processes come in use for the purchase and land for sale holdings as they are for homes, businesses, retail spaces, and other real estate assets. Each state's appropriate real property laws cover real estate transactions.<br>

thecom234
Download Presentation

Legal Procedure of Land Purchase and Use

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Legal Procedure of Land Purchase and Use In Australia, there is not a single piece of legislation that specifically addresses the sale of agricultural property. The same conveyancing processes come in use for the purchase and land for sale holdings as they are for homes, businesses, retail spaces, and other real estate assets. Each state's appropriate real property laws cover real estate transactions.

  2. Farmland Ownership A family-run rural business typically holds its real estate in one of three ways: in the individual names of the farmers or Graziers, in a private "proprietary limited" corporation, or in a private discretionary trust. It is important to seek appropriate tax and accounting guidance in order to determine the best land ownership structure for the venture. The farmer or Grazier will then frequently create an operating entity (again, a private proprietary limited company or a private discretionary trust) to run the agribusiness from the property. A property entity and an operational entity are the results of this structure.

  3. Land Tenure In Australia, freehold and leasehold are the two most common types of land tenure. Each state and territory have responsibility for managing the formation of land titles and ownership. This is in accordance with its unique set of laws. Across their land holdings, larger rural properties may contain a combination of leasehold and freehold land tenures. Unlike private leasehold agreements with individual landowners, leasehold land holdings are often granted by the government. The tenant-farming concept used by private landowners is unusual in Australia. When freehold is not an option, the farmer or Grazier will typically lease farmland from the Crown or government.

  4. Easements, Access rights and Different Interests in Land Land Title will talk about others registered interests in land. This includes easements, rights of way and restrictions on use. What access is provided to the property, whether it is legal access or access that is personal and can be terminated, and to what extent is another question to be addressed when acting for either a vendor or a purchaser. Some vendors who have had property for a very long time—possibly for generations—believe that they have legal access to it. But it turns out that they must cross a stock road or pass through a neighbor's land piece.

  5. Contact Us Suite 1, 1 Cook Drive, Pakenham Vic 3810 reception@thecompanyre.com.au 03 5918 4315 Content Resource: https://thecompanyre.blogspot.co m/2024/03/legal-procedure-of- land-purchase-and-use.html

  6. THANK YOU!

More Related