Foreign purchasers will be required to pay a 4% surcharge of the dutiable value of property acquired (including part of a property or a part interest in the property) in South Australia.
The Verification of Authority policy requires legal practitioners, conveyancers and mortgagees to take reasonable steps to verify their clients’ authority to be a party to the instruments authorised by or under a client authorisation.
A caveat (derived from the Latin word for ‘beware’) is essentially a warning or caution that can be registered on the Certificate of Title to a property to prevent any further dealings with that property.