PEXA E-Conveyance Vs Paper Settlement

E-Conveyance Vs Paper Settlement

Deciding on the most efficient and best value option for settling your property transaction is at the front of mind to most people and with the onset of modern technology, this decision now includes the option for electronic processes. So which is better? A traditional paper settlement or a more modern approach by way of conveyancing? Let’s discuss.

What is a Paper Settlement?

A “paper settlement” is the traditional method of settling a conveyancing matter. Solicitors Brisbane for the Buyer and Seller, the lending bank, and the releasing bank all meet in person at an agreed location to swap legal documents and hand over bank cheques.

What is a PEXA e-conveyancing?

PEXA E-Conveyancing is an electronic form of settlement, which minimizes the manual processes associated with a traditional paper settlement. Solicitors and banks transact together in an electronic environment to swap legal documents and transfer funds via electronic funds transfer (EFT).

Pexa E-Conveyancing is a great way to settle your property transaction. It allows for a very efficient, fast, and secure way to settle your property transaction in real-time with no delays. This includes treating sale proceeds as cleared funds so there is no waiting for cheques to be deposited and cleared into the Seller’s account. A PEXA settlement also provides for lodgement of legal documents instantly with the Land Registry which reduces the risk of delaying registration of the property transfer.

Always know what’s going on conveyancing

A PEXA Settlement can also incorporate an app that allows real-time tracking for Buyers or Sellers.  You can keep yourself updated the entire way through the conveyance by using the free settlement app “Settlement”. Buyers and Sellers can keep themselves informed throughout the settlement process and know exactly when settlement is complete.     

Use PEXA through Aylward Game Solicitors

In states such as New South Wales and Victoria, PEXA Settlements have become mandatory. However, with Queensland set to follow suit many law firms have not adopted the electronic settlement process and are not subscribers to PEXA.

Aylward Game Solicitors are subscribers to PEXA and we are able to provide Buyers and Sellers with the option of an electronic settlement or a traditional paper settlement. Each Client along with each property transaction is individual and we strive to provide our clients with a tailored conveyancing experience.   

Article Source: PEXA E-Conveyance 

GAY AND LESBIAN DE FACTO COUPLES AND PARENTING

 

Elton John and his partner David may not be considered the parents of their children in Australia.

Under the provisions of the Family Law Act parents are responsible for the care, welfare, and development of their children. The parents may be married or living in a de facto relationship. In both instances, the children of that relationship are recognized as the children of their parents. This extends to a lesbian couple living in a de facto relationship. The mother of a child in a lesbian de facto relationship is the parent of that child if the child was conceived by artificial insemination. The partner of the mother would also be considered a parent of the child under the provisions of the Family Law Act. The child is of course the child of the mother who gave birth to the child.

Gay and Lesbian De Facto Couples and Parenting

This does not extend to males in a gay de facto relationship even if one of the males donated sperm for the conception of the child. The biological mother and if in a relationship with her partner are deemed to be the child’s parents even if it is the intention of the biological mother and the gay male father that the child born will be living with the father of the child and his gay partner. It will be necessary for the gay male partners to legally adopt the child or apply to the Family Court for parenting orders of the child. The process of adopting a child is subject to the review of the relevant State department. Alternatively, an application may be made to the Family Court for the formal parenting of a child by a gay male couple. The normal considerations for parenting of that child will be made by the Court.

If a gay male couple raised a child without seeking formal parenting orders in relation to the child and if the relationship breaks down then either partner may apply to the Court for parenting orders on the basis he has been a significant person in that child’s life.

It may be prudent for lesbian and gay male couples to formalise the parenting of any child raised by them by seeking appropriate parenting orders in the Family Court.

Article Source: De Facto Couples

What do the Federal Government amendments to the Family Law Act mean for Superannuation?

 

Superannuation and Family Law

In 2002 there were amendments to the Family Law Act which allowed superannuation to be treated as property. The Court was empowered to make Orders splitting superannuation entitlements, transferring entitlements from one party to the other. Of course, the splitting of a person’s superannuation entitlement and a transfer of that entitlement does not mean that the person receiving the benefit of that entitlement could immediately draw down on the interest received. The normal provisions for drawing down on superannuation would. Under the legislation, if a splitting Order was made then one person would obtain an interest in the other person’s superannuation fund. A party could retain that interest in the fund or roll it out into a fund of their own choosing.

Prior to 2002 and the reason why this legislation was introduced into the Family Law Act was that in many cases married couples have had small property interests but large superannuation entitlements. At this time, the Family Law Act only applied to married couples. For instance, a person’s employment may have entitled that person to the benefit of a large superannuation fund such as airline pilots. As well parties to a marriage may have salaries sacrificed their income into their superannuation fund thereby creating a large superannuation interest. The remaining assets may have been meager. The Family Court prior to 2002 did not have the power to deal with superannuation which meant that one party would walk away with a large suppuration interest and the other party would only have a small interest in the remaining assets of the marriage. If a party was retiring in the near future then the Court had powers to prevent a party from dealing with their superannuation entitlements and when that party retired, the Court could then make Orders for monies to be drawn down from the superannuation fund and paid to the other party. This created difficulties in enforcing such Orders. For these reasons, the Family Law Act was amended to enable the splitting of married couple’s superannuation funds.

The legislation was further changed in 2009 which enabled de-facto couples and same-sex couples to have the same rights as a married couple under the Family Law Act. This allowed them to also have the benefit of the change in legislation enabling the splitting of their superannuation funds.

The Recent Federal Budget Made Changes

The recent federal budget made substantial amendments to superannuation which greatly affect separating parties. What is even more alarming, is that this legislation affects divorcing couples who suffer emotionally and financially when there is a breakup in their relationship. The legislation of the Government makes this far worse.

The Federal budget has made substantial difficulties with changes to its superannuation policies. Pursuant to such changes the maximum amount a person can put into a superannuation (non-concessional contributions – after-tax dollars) is $500,000.00 per member of a fund and pursuant to the legislation this is a lifetime limit that becomes effective from the budget night of 03 May 2016.

Prior to the changes being made a person’s limit was $540,000.00 every three (3) years (if that person was under 65 years of age) or $180,000.00 per year. Many people took advantage of the legislation as it then was to contribute $540,000.00 every three (3) years is the maximum allowed at that time. If such contributions were made then the entitlements of that person now exceed the newly introduced lifetime cap. If the total amount paid into super exceeded the $500,000.00 after the date of the budget then that person is now required to draw down the excess paid into superannuation cannot contribute any more non-concessional contributions to his/her fund. There would no penalty in drawing down the amount required. Once the limit of $500,000.00 has been paid into a superannuation fund, then no further non-concessional contributions can be made.

Further, the limit on the allowable before-tax concessional contributions is to be reduced from $30,000.00 to $25,000.00 per year from July 2017.

Because the Family Law legislation allows for the splitting of superannuation funds, many couples now separating may lose the ability to replace the entitlements in their fund if a splitting Order is made by the Court.

Because of the changes to the superannuation legislation, people in a relationship, after separation will find it harder to rebuild their superannuation if a splitting Order has been made on their fund.

Are there ways to protect yourself from the Superannuation Changes?

Alarm Bells are ringing – Nicole Pedersen in a cent article suggests 4 ways of minimizing the impact:

1. Split your pre-tax super contributions equally in marriage – the main goal may be to equalise balances so, as a family, pay in and amass as much as possible under the proposed stringent limits. Contribute as much as concessional – salary sacrifice – contributions as you can for a lower-earning spouse (from July 2017 it’s planned you’ll no longer have to do this through an employer).

2. Equalize your pre-tax contributions in marriage – if you and your spouse have unequal balances, you could also use the once-a-year opportunity to help even out balances by splitting concessional contributions paid into the higher balance account across to the other spouse’s super. Under the super splitting rules, you can move up to 85 percent of contributions into the other spouse’s account.

3. Split your post-tax contributions equally in marriage – this way, in the event of a subsequent relationship breakdown, neither spouse loses the right to make future non-concessional contributions. When making after-tax contributions progressively over time, share them between accounts. Also get freebies and tax benefits via after-tax spouse contributions (attracting up to a $540 tax rebate if, from July 2017, your spouse earns under $37,000) and a $1000 annual non-concessional contribution (to get the government’s co-contribution of up to $500 into the fund of someone earning under $50,454).

4. Split your super equally on divorce – possibly the only way to ensure both parties still have some capacity to rebuild their super if they have the money to do so. We’ll need to see the legislation to know if divorcees will be disadvantaged.

Article Source: the Family Law Act

Kanye Believe It Or Not? Kim Kardashian Can!

As reported recently in a ‘very reliable’ gossip magazine, Kim Kardashian and Kanye West’s marriage is on life support right now, but don’t expect a Court showdown if they do go their separate ways.

Radaronline.com has learned the couple has hammered out an agreement on how to potentially divide their assets – including the kids – in the event of a split.

The benefit of a Financial Agreement

One would assume that Kim Kardashian would hold onto her cash worth millions as well, although this is not stated in the article.

We can only assume that Kanye would hold onto enough cash to make his life happy but not to the extent of Kim.

Kim has primary custody of the children, North and Saint. Kanye no doubt has visiting rights and will spend time with them.

A dignified resolution.

No fighting in the Courts. The Agreement spells everything out and their financial settlement will be in accordance with the terms of the Agreement. Minimum hassle. In Australia parties also have the benefit of financial agreements. They can be entered into whilst in a de-facto relationship, before marriage, during the marriage, and after a divorce.

Again the Agreement can set everything out which means a dignified resolution if a separation should occur.

The Agreement has to be specific in its terms. You would not want the parties to squabble for the meaning of its terms. Detailed drafting is essential in clear and precise terms.

If the Agreement has flaws or does not comply with the provisions of the Family Law Act then it can be overturned at great expense. It is best to have the drafting done properly in the first instance to prevent a fight between the parties in the future.

They are not simple documents. Refer to an article on our website on Financial Agreements for further details.

Article Source: Kanye Believe It Or Not

Queensland Surrogacy Process in Australia

SURROGACY – A COMPLICATED PROCESS IN QUEENSLAND AND AUSTRALIA

What is the surrogacy process in Australia?

A surrogacy arrangement is an arrangement between a woman ( the “birth mother”) and another person or persons ( the “intended parent or parents”).  The birth mother can give birth to a child with the intention that the child is to be treated as the child of the intended parents.  It is intended that the parents will then have custody and guardianship of the child.

Commercial surrogacy arrangement

A commercial surrogacy arrangement occurs if the birth mother receives any type of payment, reward or other material benefit or advantages from giving birth to the child. Commercial surrogacy arrangements are not legal in Queensland nor Australia (apart from the Northern Territory where there seems to be little legislation in regard to this).  The birth mother can be compensated for reasonable medical, legal and counselling expenses arising from the birth of the child.  These payments do not render the surrogacy arrangement a commercial one.

Parentage order and the Surrogacy Process

An order is made by the Children’s Court for the transfer of the parenting of the child to the intended parents.

Surrogacy arrangements can only occur if the intended parents for medical or other reasons are unable to conceive and give birth to a child.  In the case of female same-sex couples, both intended parents must be able to show that both women are unable to carry or conceive a child on medical grounds.

There are strict requirements for entering into any surrogacy agreement and those requirements must be complied with.  The agreements must be entered into prior to the child being conceived.

Even if the parties enter into a surrogacy agreement in Queensland these agreements are unenforceable.  This means that the parties cannot enforce the arrangement if things go wrong. In such circumstances, the parties are required to bring an application to the Family Court pertaining to the parenting of the child.  The Family Court will then engage in an assessment of the child’s best interest.

To legalise the arrangement after the birth of the child the parties must apply for a parentage order 28 days after the child is born and before the child is 6 months old.  Such applications are brought before the Children’s Court.  There are strict conditions and regulations that must be adhered to and complied with if this application is to be successful.

The requirement to obtain independent legal advice and counselling.

The legislation requires that all parties to a surrogacy arrangement obtain independent legal advice and counselling before entering into any agreement.

Overall surrogacy arrangements are complicated in Queensland.  Further information may be obtained on this by visiting our website. 

Article Source: surrogacy australia 

Warning: Delays in Court Expected

 

Families and Children look set to suffer more in Queensland than anywhere else in Australia Court.

If you are contemplating going to either the Family Court of Australia or Federal Circuit Court of Australia to settle issues relating to the breakdown of your relationship including issues surrounding who your children spend time with, you could be in for a rude shock.

It now seems certain that timeframes for your matter to be heard will increase considerably due to the movement away from the Brisbane Registry of the Family Court and to the Appeal division of such Court.

Justice Graham Bell retired last year and it was announced in late 2015 that Justice Michael Kent was promoted to the Appeal division of the Family Court.  Judge Demack of the Federal Circuit Court in Brisbane has accepted a permanent posting in Rockhampton further depleting the stock of family law judges in Brisbane. This means that now there are only two judges sitting in the trial division of the Family Court in Brisbane to determine matters in the Court.  Subsequently, the already overwhelming demand on the Family Court in Brisbane will be stretched further, undoubtedly pushing back hearing and trial times which already can be set down for a time more than 12 months in the future.  Further to this, any judgments made by these judges post-trial may also be delayed as the judge’s workloads increase.  It is already not uncommon for a judgment to be handed down more than 12 months after the trial of a matter.

As a result of this, the Federal Circuit Court of Australia (which deals with the majority and less contentious of family law disputes in Australia) will be placed under more pressure to handle its caseload as the Family Court will not be able to assist in determining as many cases.  The Federal Circuit Court is already experiencing similar delays to that of the Family Court of Australia.

When you consider that this will leave Brisbane with 10 Judges in the Federal Circuit Court, two in the Family Court and two in the Appeals division of the Family Court (who only hear appeals to decisions and not cases at first instance), compared to 15 Federal Circuit Court Judges in Melbourne and 21 in Sydney (not to mention the further judicial members of the Family Courts and Appeals Courts in both other cities), it seems clear that the Brisbane families will experience long delays.

All of this could very easily mean that from the date you file your Initiating Application with the Court you may be waiting in excess of three years to have a result.

Consider what this will mean for family relationships.  A father or mother who may be fighting to see their young child may not see them for all of this time.  By the time the parent and child are reunited the child may have no understanding of who that person is and will have no bond with that person.  On the other hand, if the child is 12-14 once proceedings commence the child may well be nearing adulthood by the time a decision has been handed down, and thus the parent and child will have lost the final years of childhood with that parent.  Scary stuff indeed.

Consider also the dramatic increase in cost over this time of retaining legal representation over that time.  IT will cost significant time with family members, substantial cost and untold stress on Queensland families.  Suffer the little children indeed.

For a Delays in Court which holds the best interests of the children as their paramount consideration, it seems clear that something must be done to increase judicial staff in Brisbane and that is a cause we should all consider our role in supporting.

So how do we avoid these delays?  Read Family Lawyer Charles Noble’s next article on Alternatives to Court and how it can save you time, money, and stress.

Article Source: Family court Australia

What is Power of Attorney and When Would You Need It?

In simple terms, a power of attorney is a legal document where a person is nominated to act on your behalf (known as the agent) regarding your affairs. The document gives the nominated party the legal capacity to make decisions for you on things like financial matters and other duties.

The person given attorney does not have to be a lawyer, although in many cases a law firm is enlisted to act as power of attorney.

Some common tasks of those entrusted with power of attorney can include, but are not limited to:

• The buying and selling of property
• Operating bank accounts
• Organising the paying of bills and debts
• The power to vote in meetings
• And lots more…

The tasks involved will depend on particular circumstances and what the principal (the person delegating the power of lawyer) requires and stipulates.

When Might You Need To Delegate Power of Attorney?

Many people only assume power of attorney is entrusted to someone when the principal no longer possesses the mental capacity to make sound decisions, such as in the case of someone with Alzheimer’s or suffering an incapacitating illness or injury.

While this is often the case, the are other scenarios where you may need to consider giving someone you trust the power of Solicitor, even on a temporary basis.

One such instance is when you might be required to spend a significant amount of time overseas and find it too difficult to handle all your affairs back home from abroad.

If you, the principal, lose your capacity to make decisions, then the power of attorney you delegated will cease.

Enduring Power of Attorney

With the enduring power of a lawyer, you are empowering your legal representative to look after your affairs. This can be immediate or specified to come into effect at a later date in the event that you lose your mental capacity to make your own decisions.

In this case, your lawyer handles those decisions for you and takes care of any tasks nominated in the power of attorney document. In some cases, this could even include decisions regarding things like medical treatment and financial matters.

Will and Estate Planning Brisbane

When it comes to preparing wills, estate planning, and matters regarding the power of a lawyer, your local and highly experienced law firm in Brisbane is Aylward Game Solicitors. If you need advice regarding the delegation of power of solicitors to someone you trust, then think of us first. 

Article Source: power of attorney 

2015 Family Law Review: What A Year It’s Been

 

What a year it’s been. Winding up the practice in South Brisbane and moving to the big smoke in March this year.

2015 Family Law Review: What A Year It’s Been and to have their assistance when dealing with the complex issues which can arise in the breakup of entities, partnerships and trust and determining the best ways of restructuring such entities after a family break up. The knowledge of the lawyers in the firm has been invaluable in dealing with the complex issues which arise from time to time.

The Family Law Section of the practice now has 2 Accredited Family Law Specialists and a very experienced family solicitor who practices exclusively in Family Law Review. We also have the benefit of a very experienced Family Law in house counsel. It has been invaluable to maintain the family law matters “in house” when dealing with a matter in the Family Court. The benefits and cost savings to our clients have been appreciated.

Our family lawyer Charles experienced many successful outcomes for his clients in the Family Court. Some of his achievements were the recovery of children from Victoria who were returned to the care of their mother. He helped an African mother keep her young children when the Department of Children’s Services intervened. Her African customs in raising children differed from the parenting we experience in Australia. The mother benefited from expert advice from Charles and the Court was satisfied the children would be well cared for in the mother’s care.

We achieved successful outcomes in negotiations and collaborative matters when both parties were happy with the settlement which they themselves achieved.

We provided many 20 minute free consultations to parties affected by recent breakups in their families. These consultations helped them to deal with the many issues which arise in such circumstances. We were only too happy to give our advice and assistance to them.

I have enjoyed the various networking events with my fellow collaborative practitioners. I have re-joined the committee of Queensland collaborative law which celebrated its ten year anniversary this year. It’s incredible how collaborative practice has grown over this short period of time. A very successful celebration was held at the office of Vincent’s Accountants in the city. To me, it is one of the most satisfying ways of negotiating family law matters. Generally, we have been able to maintain a genuine working relationship between the parties who will be involved in their children’s future for many years to come.
We have maintained our involvement with Brisbane South Bank (BSB) a viable business networking group for the South Bank precinct. We enjoyed their many networking events and in particular, the “showcases” held each year where we were able to network with the 50 business owners who participate. It is a fun event and provides a chance to get to know the business owners ranging from large corporations to small business owners which include, Qpac, the Art Gallery, GOMA and the Convention Centre.

I continued my Notarial work throughout the year and assisted many clients with the completion and authorisation of overseas commercial documents.

I appreciate the efforts and support given to me by the professional and administrative staff that work with me and we enjoy a very harmonious and enjoyable office relationship.

We are grateful for the support of my clients throughout the year. We look forward to providing positive and beneficial outcomes for our clients in the New Year.

We extend our best wishes for the festive season and wish everyone a prosperous and happy New Year.

Article Source: Family Law Review

Top Ten Issues You Need To Know About Family Law Litigation

Follow along for the latest installment of our ‘TOP TEN ISSUES YOU NEED TO KNOW” series. This feature discusses the Top Ten Issues You Need To Know About Family Law Litigation.

In 1975 the Federal Government set up the Family Court to deal with matrimonial matters.  It now also deals with de facto and same-sex relationships.  Prior to 1975, the State Supreme Courts had jurisdiction in regard to issues resulting from a breakdown in a marriage.  De facto couples and same-sex couples had no representation in this Court.  Under the Matrimonial Causes Act, it was necessary to establish a fault to bring matters before the Court, such as cruelty, desertion, separation for a lengthy period of time, and other such matters.  The requirement to establish these grounds was abolished and parties can now have matters dealt with in the Family Court as soon as separation occurs in their relationship.  There is a requirement for a separation of 12 months to bring an Application for Divorce but that does not prevent applications in relation to property issues and children being filed with the Court immediately after a separation has occurred.

Disadvantages of Family Law litigation

1. There can be lengthy delays in having the matter dealt with by the Court. It is not unusual for a matter to take 15 months to 2 years for a final determination to be made by the Judge.  The parties can at any time reach an agreement on the issues before the Court and have orders issued by way of consent.
2. Family Law Litigation including Family Court proceedings can be costly. There are requirements for the filing of applications and affidavits and other documents and these documents must be properly drafted if the matter is to proceed through the Court.  The parties have separate representation.  The solicitors receive varying instructions which can create conflict in the conduct of the matter which draws out the process of reaching a speedy resolution.
3. Proceedings in the Family Court are emotionally draining for the parties. Friends and family can be drawn into the process creating relationship difficulties.  It is an adversarial process that does not assist in a conciliatory resolution of the issues before the Court.
4. The parties in Family Court litigation have no control over the process. Dates are set for the mentions and various hearings of matters before the Court.  If the parties are unable to resolve their matters then a judgment will be forced upon them at the conclusion of the matter by way of trial.  The judgment may not be to everyone’s satisfaction.  The parties are subject to examination, cross-examination, and re-examination during the trial process and it can be a harrowing experience for those involved.
5. The parties have no control over the running of the matter through the Court process and are required to comply with directions and orders made and for appearances on dates set by the Court.
6. Legal representation is not necessary for the running of a matter in the Family Court. Self-litigants however do not have the knowledge required to meet all the requirements that are imposed upon them for the proper conduct of their matter and the drafting of their Court documents.  It is not an easy process to follow and self-litigants may not have the ability to properly present their evidence to the Court nor to comply with the requirements for the drafting of the application and other Court documents.

 Advantages of Family Law litigation

1. Court orders made by the Court are enforceable and this provides some certainty to the resolution of financial issues and children’s issues arising from a breakdown in a relationship, leading to family law litigation. Court orders are enforced in the Court.
2. Where there is a real concern in regard to the parenting of the children an Independent Children’s Lawyer can be appointed by the Court to solely look after the children’s interests. An Independent Children’s Lawyer is funded by Legal Aid although the parties may be requested to contribute to a small degree to the costs of the children’s lawyer.  The children’s lawyer has the ability to obtain relevant information from doctors, hospitals, schools, and other sources.  As well a Family Report may be prepared at the request of the children’s lawyer.  The Court can also order a Family Report without the appointment of a children’s lawyer.  The Report Writer will then interview the parties with the children if that is appropriate and present a detailed report with recommendations for a resolution of parenting issues.  The Judge hearing the matter will make his or her own assessment of those recommendations.  The information obtained by the Independent Children’s Lawyer reduces the costs of the parties personally obtaining such documentation and information.
3. There is a requirement in relation to parenting matters for the parties to attend a mediation prior to the institution of proceedings in the Court unless there is some element of urgency in bringing this application. The Federal Government has set up Family Relationship Centres which provide this mediation service without cost to the parties.  This is a very valuable means of resolving parenting issues or if not reaching a resolution of minimising the matters which then go to the Court.
4. An application for divorce can be filed 12 months after the date of separation. The parties have 12 months after the order for divorce is made by the Court to resolve financial issues otherwise leave of the Court must be obtained.  It is a no-fault divorce application.

Article Source: Family Law Litigation

 

RESERVE BANK OF AUSTRALIA (RBA) RATE STILL AT AN INCREDIBLE HELD AT 0.10%

 

The world knows all too well about how your interest rates can dramatically change from one month to the next and if you get yourself in a good position, you lock that RBA interest rate in for a few years to protect yourself from being knocked out by a rise in the RBA interest rate (RBA cash rate).

For 3 years the RBA rate remained at 1.50%, which for some was great as no rise in an otherwise ever-changing world meant that homeowners could keep their properties. For others, the cost of living was still too high to save a deposit for a house. Then in mid-2019, we saw a drop of 0.25% bringing the rate down to 1.25% which for anyone struggling to pay their mortgage meant this was a big stress relief or for some of us, helped to apply for a home loan to be more achievable.

The rate continued on this downward trend dropping by 0.25% again and again which brings us to today at an incredible low of 0.10%. On top of that, the Government is currently offering $15,000 to First Home Owners for contracts entered into from the 1st of July 2018.

What does this mean for you? It means anyone who has been looking to buy a property, can now get a home loan with an extremely low-interest rate making it more affordable for the average income earner.

But do your research. Check out the different offers from the banks and get one that suits your needs. We suggest you do your calculations before applying for a loan. Get advice on your contract before signing it.

Does your property lie in a flood zone? There are so many possible questions with buying a property that you may not know what are the correct questions to ask.

Contact Aylward Game Solicitors for a 20minute free consultation or for $440 for up to 90minute consultation before you sign a contract.

Article Source: RBA Interest Rate