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Practice Areas - Australia
Australia
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Real Property Law Definition
Real Property Law in Australia typically refers to practice in all areas involving the rules governing the acquisition, transfer and holding of land. These rules have been developed under both common law and by federal and state legislation.
Property matters of a transactional nature involve the acquisition or disposition of land. This may range from a residential conveyancing matter to the sale or purchase of a major asset such as a shopping centre or commercial office building. In more complex acquisitions property practitioners may undertake extensive legal due diligence of the property that their client is considering acquiring. Large scale transactions may also require the practitioner to provide advice in relation to strategy and structuring, difficult title and planning issues and taxation laws at federal, state, and local level.
Property practitioners frequently act for landlords or tenants in preparing, advising and negotiating leases including retail, commercial and industrial leases. As the retail leasing sector is now highly regulated in all Australian jurisdictions, property practitioners must have a sound knowledge of the relevant legislation when acting on leasing matters. Practitioners acting for landlords frequently assist their clients in matters of compliance with retail legislation. Leasing practitioners frequently work directly with property managers in relation to legal issues impacting on the management of landowner’s assets.
Specialist property lawyers in Australia act for commercial clients, large institutional investors, individuals, governments, and government departments.
In addition to their core practice areas, property lawyers are also regularly called upon to advise in relation to property development. In this respect, and given Australia’s recent period of sustained significant urban development, their practice often crosses into other practice areas such as planning and environment law, construction law, and finance law. Accordingly, Property law practitioners can often assist with:
formulating land development applications;
providing guidance as to permitted property use and zoning;
assisting to obtaining relevant use permits (such as specific trading or industrial use permits, liquor licenses, or parking licenses);
general compliance with state regulatory requirements such as submissions in respect of applicable land transfer duty (commonly referred to as stamp duty) and land (holding) tax; and
assistance with development financing, development joint-ventures agreements, and partnerships.
