Found 193 relevant pages. The strongest matches explain what “nominee clause clause south australia” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Double Stamp Duty: Under the Stamp Duties Act 1923 (SA), if a nomination is not executed correctly—such as if the nominee is not "related" to the purchaser or if there is a "sub-sale" arrangement—RevenueSA may charge stamp duty twice: once on the original contract and once on the nomination.
• Continuing Liability: In a standard REISA Contract, the original purchaser is not "off the hook" after nominating; if the new nominee fails to settle or pay the balance, the vendor can legally sue the original purchaser for the full purchase price and damages.
• Finance Withdrawal: Many South Australian lenders will refuse to provide a mortgage if the entity on the loan approval (e.g., an individual) does not match the entity on the transfer (e.g., a company or trust), potentially causing the buyer to default on the contract.
• Strict Notice Requirements: Vendors in South Australia may require a formal "Notice of Nomination" to be served within a specific timeframe; failing to provide this in writing can result in the vendor refusing to recognize the nominee, forcing the original buyer to settle in their own name or lose their deposit.
• Land Tax Surcharges: For Chinese-Australian investors, nominating a foreign-owned company or a discretionary trust as the buyer can trigger the South Australian land tax surcharge, significantly increasing the annual holding costs of the property.
• Vendor Refusal: Unless the contract specifically includes the words "and/or nominee" or a dedicated nominee clause, a vendor in South Australia is not legally obligated to accept a nomination, which can trap a buyer in an unsuitable purchasing entity.