title registration

Property and money: 20 tips any married woman must read (part 1).

by Chris Lang on October 26, 2009
Property and money: 20 tips any married woman must read (part 1).

Failing MarriageI have recently met a very nice lady, Rachel. Unfortunately bad things tend to happen (especially) to the nice people and Rachel had a bad experience relating to her marriage, finances and property. As a result she wised up to a lot of issues and learned about the right way to handle finances and property in a marriage.

Here are Rachel’s best tips for married women – and I say, whatever state your marriage is in, these are very important matters to think about. Many women effectively pass the reins of their life and property ownership in the hands of someone else, which leaves them vulnerable and exposed to financial difficulties in case something goes wrong.

The first part – Life Tips in a Marriage – will open your eyes to things that need to be done to keep you safe, whatever happens. The second part – Life Tips in a Failing Marriage – will help you go through the tough times, if and when they come.

Life Tips in a Marriage

1. ALWAYS ensure the marital home is in joint names. If hubby is against this, ask why, but do not take no for an answer.

2. ALWAYS be involved in your joint financial affairs. Know exactly what bills, loans and mortgages you both have and keep an eye on joint credit card debt. Hubby’s debt becomes yours and vice versa.

3. NEVER agree to allow the drawing down of extra mortgage payments without both signatures, and never let this be accessed via internet banking.

4. Try to keep a finger in the employment pie, no matter how small it is. Try working from home when the babies are little.

5. NEVER let anyone access your superannuation fund, even if it is ‘just to look’. Keep it password protected.

6. Build a small nest egg for a rainy day that can only be accessed by you. Be open and honest about it. Call it what you want, but it’s your insurance policy. If you don’t have an income and you are a full time Mum, this nest egg is an absolute necessity.

7. Always be involved in compiling taxation returns, yours and your partners, ESPECIALLY if he is self employed. Never let yourself be used as a Partner or Director in hubby’s own business unless you really are drawing a salary of your own and have your own bank account to put it in.

8. If you have a car, make sure it is registered in your name.

To be continued – coming up next Life Tips in a Failing Marriage, stay tuned.

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Section 32 – what the heck is it? (part 3)

by Chris Lang on November 2, 2008
Section 32 - what the heck is it? (part 3)

Building permit

All the building permits for the house issued 7 years back from the date of contract should be listed here. Also if the house was built by owner builder in the same period of time – a relevant permit should be attached. Why is that of interest to you? Because, for example, if you see a new pergola or a carport

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Section 32 – what the heck is it? (part 2)

by Chris Lang on October 31, 2008
Section 32 - what the heck is it? (part 2)

All the taxes, rates, body corporate fees and charges of that sort that normally are payable on that property should be listed here. Unfortunately the law allows the vendor to just say “not exceeding …” and give you the highest amount (say, $1800) – without giving you the exact number. Personally, I find that annoying. This section should also list all the sums the vendor still owes and the interest payable on them.

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Section 32 – what the heck is it? (part 1)

by Chris Lang on October 29, 2008
Section 32 - what the heck is it? (part 1)

Short version: One boring, awfully long, barely readable document that you get with the house contract. You can’t sign the contract if you haven’t received Section 32.for the house.

Long version: The real name of this document is Section 32 Vendor’s Statement – but we all call it just Section 32. You better read it and pay attention to the details, because it is the most accurate description of your future home you will ever get.

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What exactly happens on settlement date

by Chris Lang on August 31, 2008
What exactly happens on settlement date

There are two important dates in the house buying process: the contract date and the settlement date. Contract date is the date when the vendor have signed a contract of sale or a contract note. In most contracts the house price is split in 2 parts, first the buyer pays the deposit (5 – 10 percent of the house price) and the remaining amount is paid on the settlement date.

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How to prepare certified copies of documents

by Chris Lang on August 19, 2008
How to prepare certified copies of documents

It can happen that in the house buying process you will be required to produce certified copies of certain documents – and many people are unsure what that means. Whenever you are being asked for a certified copy of a document, here is exactly what you need to do:

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