Buying a Business
A Few Things You Should Know
If you are buying a business, these are the matters that you should (at the very least) consider right at the outset of your business purchase so as to avoid creating unnecessary (and potentially costly) issues for yourself in the course of or following your
Retail shop lease costs
Lessee’s liability for costs associated with the retail shop lease
A lessee under a retail shop lease is not liable to pay any amount for the lessor’s legal or other expenses in relation to the following:
preparing, renewing or extending the retail shop lease; obtaining the consent of a mortgagee
Retail shop lease outgoings
Meaning of ‘outgoings’
Under the Retail Shop Leases Act 1994 (Qld) (the ‘Act’), a lessor’s outgoings for a retail shopping centre or leased building are:
the lessor’s reasonable expenses directly attributable to the operation, maintenance or repair of the centre or building and areas
Buyer’s deposit obligations
In Queensland, if you, as the Buyer, enter a standard contract of sale for the purchase of a house and land (using, most commonly, the ‘REIQ Contract for Houses and Residential Land (15th Ed)’ or in respect of the purchase of an apartment or townhouse, the ‘REIQ Contract for Residential Lots in a Community Titles
What is an Enduring Power of Attorney
In Queensland, an ‘attorney’ is a person who is authorised to make particular decisions and do particular other things for another person,
