Key Practice Areas
Protecting Your Purchase
Case Reference: 163354
The Situation: Our client was completing the purchase of management rights for holiday apartments on the Sunshine Coast. After receiving detailed instructions from our client, we undertook a detailed review of all relevant documentation, including service agreements, deeds of assignment, mortgages and other loan documentation. We identified potential issues with the documentation and provided commercially astute solutions to our client.
We conducted and advised on the results of various searches and due diligence enquiries, meeting all deadlines. We then arranged personal property securities register releases whilst making sure our client was provided with all relevant documentation required to satisfy certain management right conditions. With all the fine print attended to, we worked closely with our client and the other side to negotiate and arrange execution of the management rights contract and property contract within the specified time-frames.
The Result: By providing clear advice and solutions, our client was able to confidently enter into the management rights contract, and be assured that his significant investment was protected with the correct structure, without the worry of critical issues regarding the overall business or its day-to-day operations arising once the purchase was completed.
As every case is different, the cases reported here cannot be taken as an indication of a similar outcome being likely in your case, and these reports are not to be taken as legal advice about your particular situation.