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NT Conveyancing & Property

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Stamp duty fields

The stamp duty fields have been renamed to assist in identifying the relevant stamp duty fields for each state and territory (when inserting them in precedents).

All stamp duty fields will now have the prefix naming convention of SD (Stamp Duty)  and the relevant state or territory:

State Current display name Updated display name
NSW Stamp duty display [SD NSW] Stamp duty payable
VIC VIC SD on transfer (Short text) [SD VIC] Stamp duty payable
TAS TAS Duty Payable [SD TAS] Stamp duty payable
WA WA SD Rate – Payable Amount [SD WA] Stamp duty payable
NT NT Stamp Duty display [SD NT] Stamp duty payable
QLD QLD SD Stamp Duty payable [SD QLD] Stamp duty payable
ACT ACT Stamp Duty display [SD ACT] Stamp duty payable
SA SA Duty – Payable [SD SA] Stamp duty payable

As each state and territory has different transfer duty rates (as well as varying exemptions and concessions), please ensure the correct field is using when inserting them in your precedents.

Details on other fields in LEAP that have been prefixed are outlined in this previous LEAP Forms Blog post.

Further details on how to insert fields into your precedents in LEAP can be found in this LEAP Community article.

 

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NT – LTO Forms

Please note, we have undertaken a full update of the NT Lands Title Forms.

The following new forms have also been created:

  • Notice of Proposed Termination Pursuant to Part 4 Section 12(9)(A) of the Termination of Units Plans and Unit Title Schemes Act 2014 ‑ Form 127 [LL-NT-PR-0192]
  • Plan of Termination of a Development Under Part 3 of the Termination of Units Plans and Unit Title Schemes Act 2014 ‑ Form 128 [LL-NT-PR-0193]
  • Plan of Termination of a Development Under Part 4 of the Termination of Units Plans and Unit Title Schemes Act 2014 ‑ Form 129 [LL-NT-PR-0194]
  • Plan of Termination of a Development Under Part 5 of the Termination of Units Plans and Unit Title Schemes Act 2014 ‑ Form 130 [LL-NT-PR-0195]
  • Amalgamation of schemes to form new scheme ‑ Form 131 [LL-NT-PR-0196]
  • Amendment of By-Laws ‑ Form 132 [LL-NT-PR-0197]
  • Registration of By-Laws or Amendment of By-Laws ‑ Form 133 [LL-NT-PR-0198]

These forms can be found at: NT > Conveyancing & Property > Property > LEAP Forms

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Conveyancing details – GST Residential Withholding Payment field

GST Residential Withholding Payment field (from the Conveyancing details table) has been updated to round down the relevant figures to the closest dollar:

This is in alignment with the ATO’s requirements that the supplier notification where the amount withheld is to be rounded down to the closest dollar.

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NT – Revenue office forms

The following new form has been added:

  • Homebuilder grant application form and lodgement guide [LL-NT-PR-0191]

This form is located in NT > Conveyancing & Property > Purchase > LEAP Forms > Revenue Office folder.

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NT – Matter Information Sheet hyperlinks

We have created hyperlinks for all Matter Information Sheets currently available in LEAP Community.  The Information Sheets are How to articles to assist you on matter setup and common form usage.  Information Sheets that are matter specific are located in the LEAP Forms folder and Information Sheets that are relevant to a particular form are located immediately preceding the form.

Matter Information Sheets hyperlinks for NT are available as follows: [Read more…] about NT – Matter Information Sheet hyperlinks

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Important changes to your Sale and Purchase matter types

We have made some necessary changes to your Sale and Purchase matter types for improved efficiency in your conveyancing matters.

Why?

We are continuing to work on a large project to change the functionality behind our forms to use our Word App entitled LEAP Document Manager (LDM).  This change is necessary to make our forms compatible with Word Online.

These changes are in preparation of future enhancements to our LDM versions of the Settlement Adjustment Sheets/Statement of Adjustments (SAS), with the NSW SAS LDM due for release firstly shortly.  Keep an eye on the Forms Blog for release notification.  These enhanced versions will contain a time-efficient two-way write back functionality, whereby Directions (cheques) created within the LDM will automate directly to your LEAP matter and vice versa.

The write back functionality can however only map to ONE location in your LEAP matter and that is the relevant Sale / Purchase Reconciliation table.  The Cheque Details table will therefore no longer default to any newly created matters.

Why write back to the Reconciliation table and NOT the Cheque details table? [Read more…] about Important changes to your Sale and Purchase matter types

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NT – Property

The following forms have been updated:

  • Authority to access building records (LL-NT-PR-0119)
  • Form 1 – Landlord’s and Tenant’s Disclosure Statement (LL-NT-PR-0178)
  • Form F-HI-017 – BuildBonus vendor (individual) declaration – purchase of a new home (LL-NT-PR-0181)
  • Form F-HI-018 – BuildBons vendor (company) declaration – new residence (LL-NT-PR-0180)
  • Form F-HI-019 – Stamp duty application form (LL-NT-PR-0182)

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Loan Agreement – new matter type

Following client requests, a new Loan Agreement matter type has been added to all jurisdictions and is located in the following folders:

  • Conveyancing & Property > Mortgages > Loan Agreement (defaults to acting for the borrower)
  • Other Areas of Law > Banking & Finance > Mortgages > Loan Agreement (defaults to acting for the lender)

Loan Details table

The loan details table has been created to specifically provide the necessary fields for no security loan agreement precedents.  All these fields will automate into these precedents:

Guarantor’s subsidiary layout

When a card is entered in the guarantor’s table, a guarantor’s subsidiary layout will appear for completion.  Again, all these fields will automate into the no security loan agreement precedents:

Critical Dates

The following critical dates have been assigned as defaults to this matter type:

  • Instruction date
  • Loan agreement executed
  • Date advance anticipated
  • Funding date
  • Final instalment due
  • File review date
  • Completion / Settlement Date
  • Not proceeding date

Folders and Forms Added

The necessary LEAP folders have been created and/or shortcut to each jurisdiction (where applicable) including:

  • Initial File Setup
  • Verification of Identity
  • Relevant Revenue Office
  • Relevant Land Titles Office
  • Legal Profession Uniform Legal Practice Rule forms

A new file cover sheet has been added for each jurisdiction as follows:

  • File cover sheet – Loan agreement [LL-NSW-GEN-0082]
  • File cover sheet – Loan agreement [LL-VIC-GEN-039]
  • File cover sheet – Loan agreement [LL-QLD-GEN-027]
  • File cover sheet – Loan agreement [LL-SA-GEN-001]
  • File cover sheet – Loan agreement [LL-ACT-GEN-002]
  • File cover sheet – Loan agreement [LL-WA-GEN-007]
  • File cover sheet – Loan agreement [LL-NT-GEN-001]
  • File cover sheet – Loan agreement [LL-TAS-GEN-008]

If you would like to provide feedback on the new matter type, or request new forms or precedents, please email the content team at content@leap.com.au

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Off the Plan – new matter type

A new matter type has been released for Off the Plan which is located in the Conveyancing & Property folder > Property > Off the Plan.

This matter type is similar to the standard conveyancing matter types with the additions of the Development Details table and Off the Plan matter specific Critical Dates.

If you would like to provide feedback please do so here.