Clause Search Results

nominee clause western australia in Australian property contracts

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#1Western AustraliaSpecial ClausesStrong match

Nominee Clause

Navigating the Nominee Clause: Understanding Your Western Australia Property Contract Buyer's Risk

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#2South AustraliaSpecial ClausesStrong match

Nominee Clause

Understanding the Nominee Clause in South Australia Property Contracts: A Guide for Buyers

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#3New South WalesSpecial ClausesStrong match

Nominee Clause

Navigating the Nominee Clause in Your New South Wales Property Contract

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#4QueenslandSpecial ClausesStrong match

Nominee Clause

The Nominee Clause in Queensland Property Contracts: What Buyers Must Know

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#5VictoriaSpecial ClausesStrong match

Nominee Clause

Unpacking the Nominee Clause: Your Victoria Property Contract & Buyer's Risk

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#6Western AustraliaSpecial Clauses

Sunset Clause

Understanding the Sunset Clause: Your Essential Guide to Western Australia Property Contracts

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#7Western AustraliaCritical Risk

Building and Pest Inspection

Protect Your Investment: Understanding the Building and Pest Inspection Clause in Western Australia Property Contracts

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#8Western AustraliaCritical Risk

Subject to Finance

Securing Your Purchase: Understanding the 'Subject to Finance' Clause in Western Australia Property Contracts

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#9Western AustraliaTitle & Due Diligence

Title Search

Navigating Your Western Australia Property Contract: Understanding the Critical Title Search Clause

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#10Western AustraliaCritical Risk

As Is Where Is

"As Is Where Is": Unpacking Buyer's Risk in Western Australia Property Contracts

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Search Summary

Found 170 relevant pages. The strongest matches explain what “nominee clause western australia” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Continuing Liability: Even if you nominate someone else, you, as the original buyer under the REIWA Contract, typically remain fully liable for the purchase if your nominee defaults. This means if they don't settle, you're on the hook to complete the sale or face significant penalties.
• Deposit Forfeiture: Should your nominee fail to complete the purchase, the seller can often retain your initial deposit, potentially tens of thousands of dollars, as per the terms of your Western Australia property contract.
• Stamp Duty Implications: While a nominee clause can sometimes be used to avoid double stamp duty, incorrect execution or timing can lead to both the original buyer and the nominee being liable for separate stamp duty payments in Western Australia, significantly increasing your acquisition costs.
• Financing Hurdles: Lenders often assess the original buyer's financial position. If you nominate a new buyer with weaker financials, the original finance approval may become void, leading to delays or even contract termination.
• Seller's Consent: Many REIWA Contracts require the seller's explicit consent for a nomination. If the seller refuses, you cannot proceed with the nomination and are bound to complete the purchase yourself, adding a significant buyer's risk.
• Tax Consequences: For investors, using a nominee clause without proper legal and tax advice could trigger unforeseen capital gains tax or other tax liabilities for the original buyer, even if they never took possession.

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