Whether you're just renting out your granny flat or leasing out a commercial investment property, you're a landlord. You'll receive the benefit of rental income, but will also have the responsibility to maintain your property.
It is common for employment contracts to have restraint of trade clauses. These prevent you from doing certain things while you’re working for your employer, or even after your employment has ended. While you may have agreed to these clauses when you signed your employment contract, that doesn’t mean that they’re always able to be enforced.
A guarantor is a person who is legally responsible for paying back a loan if the borrower fails to make repayments. It is not uncommon for friends or family members to ask someone to be a guarantor under their loan application. For example, a close friend of yours might want a loan from a bank to open her new business and ask you to be a guarantor under the loan.
Running your own business is rewarding but it can be hard work, so it’s understandable if you’re tempted to take on a partner or incorporate. If you’re wondering whether it’s worth maintaining the status quo consider these benefits to being a sole trader.
Directors can be held personally liable for their company’s debts, even though their company is a separate legal entity. This is why it is absolutely essential to seek expert legal advice on this matter immediately and not leave anything to chance.
If you’re borrowing money to purchase a home or investment in property in Australia your loan agreement may have a clause about a “caveatable interest.” This is a term you may not have heard of before, so here’s an outline of what they are and what they mean to you.
Maybe it didn't turn out as expected. Perhaps you can't stand the sight of your partner. Or you've just had enough and want to retire. Whatever the reason, leaving a business partnership is not as simple as strolling out the door with a cheerful wave goodbye.
Do you feel that your trustee may have been keeping you “in the dark” about information regarding your trust? Do you feel as if the trustee is favouring another beneficiary over you? Or do you suspect the trustee is misusing their position when it comes to handling assets of the trust?Under the Trustee Act 1925 (NSW), trustees are required to exercise their powers in the best interests of present and future beneficiaries.