Jas Stephens Magazine 5 April 2014

5th April 2014

COVENANTS AND EASEMENTS If you’re looking to buy a property, it’s always prudent to check the title of a property you are thinking of buying to avoid any last minute restrictions or surprises that may interfere with the sale.

Restrictions included in the property title are called ‘covenants’ or ‘easements’ and can be placed to ensure the property or land is not used in certain ways or that buildings conform to certain requirements. This is often done on land within a sub-division to try and ensure the buildings are of a uniformly high standard. Other covenants may prevent views from being blocked or natural light being obstructed.

Yarraville

104 Somerville Road 9316 9000

Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au

An easement is the legal term for a right, which someone other than the owner, has over the use of the land for a specific purpose. For example, the neighbours may have a right-of-way to enable access to their property or the local Water Corporation may have the power to obtain an easement to use part of the land for sewerage or water pipes.

Covenants and easements are reasonably common and in most cases will not affect the value or sale ability of the property. However, before buying you should ask the selling agent if they exist, request copies and read and understand them before making a commitment to buy.

Generally, applying common sense should address your concerns and after taking the information into consideration you will be in a better position to make an informed decision on a purchase. Always seek legal advice if you are unsure.

Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938

As a service to our vendors, we will require names & phone numbers on entry of all inspections.

Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you.

Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000).

We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.

We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected.

We make every effort to contact all interested parties prior to a property being sold.

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