Real Estate / TAG Property (J)



Meet the Co-chairs - TAGLAW

Klose, Dr. Christoph
RWP Rechtsanwälte

Real Estate / TAG Property (J)

Authors: Bronwyn Clarkson, Partner, Nicola Young Berryman, Senior Associate and Gemma Sweeney, Solicitor

In an attempt to increase efficiency and prevent unnecessary duplication, on 26 March 2019 the Queensland Parliament made a further effort to transition to an electronic conveyancing system by passing the Land, Explosives and Other Legislation Amendment Act 2019. As a result, a number of amendments to the Land Title Act 1994 (Qld) will commence operation on 1 October 2019 and paper certificates of title will no longer have any legal effect.

Read more: Paper Titles Becoming Obsolete in Queensland

Bufete Escura has prepared a document summarizing the most important corporate and tax issues to be aware of for non-resident individuals purchasing real estate locaded in Spain.

Read the entire article.

Herrick’s Condominium and Cooperative Group has learned that among a package of bills affecting rental housing agreed upon by the New York State legislature, it will be necessary for 51% of a rental building’s tenants to agree to purchase their apartment in order for a sponsor to convert any building to condominium or cooperative ownership. To date, it was sufficient that a total of 15% of units be subject to contracts with either a tenant in occupancy or an outside purchaser for a successful conversion.

Read more: Rent Reform Bill to Upend Condo and Co-op Conversions

Author: Douglas Heller

At a time when landlords lose sleep waiting for news of increased rent regulation while their taxes and other expenses increase and lifestyles decrease, it may be a good idea to consider alternatives to continued ownership.

One way out is a condominium conversion. The owner spends significant amounts of money to improve the building and units, allowing market leases to expire and buying out amenable tenants.

Read more: Could Co-op Conversions Make a Comeback?

Author: Ronan Daffey

The Court of Appeal has sent a strong message to developers not to build on land in breach of a restrictive covenant and then present the court with a fait accompli and challenge the judge not to order demolition but allow them to compensate the frustrated covenant holder instead.

In the context of an acute housing shortage, and especially of social housing, the decision to order the developer to demolish a block of 13 affordable flats is both remarkable and resolute.

Read more: Developers are warned by the Court of Appeal not to take the law into their own hands