Hi
My husband and I recently subdivided our 800sqm PPOR in Ipswich. We live in our PPOR on the front block (405sqm) and intend to build an investment property on the back block (395sqm). To help us with the mounting subdivision costs (it ended up costing close to $70k) my husband's brother decided to invest in the property with us. We now plan to sell half of the back block to his trust. So my husband will give up his interest in the back block (we are currently tenants in common) and my BIL's trust (his corporate trustee) and I will own the block 50:50.
I've always done my own conveyancing for purchases and sales, but this time because we are selling only half the property I am not sure what to put on the REIQ contract for sale in the "Property" section of the contract? I just want to make sure I put the right details to say we are only selling my husband's 50% share in the Land and Description section.
Any help would be much appreciated!
Thank you
My husband and I recently subdivided our 800sqm PPOR in Ipswich. We live in our PPOR on the front block (405sqm) and intend to build an investment property on the back block (395sqm). To help us with the mounting subdivision costs (it ended up costing close to $70k) my husband's brother decided to invest in the property with us. We now plan to sell half of the back block to his trust. So my husband will give up his interest in the back block (we are currently tenants in common) and my BIL's trust (his corporate trustee) and I will own the block 50:50.
I've always done my own conveyancing for purchases and sales, but this time because we are selling only half the property I am not sure what to put on the REIQ contract for sale in the "Property" section of the contract? I just want to make sure I put the right details to say we are only selling my husband's 50% share in the Land and Description section.
Any help would be much appreciated!
Thank you
