A property transfer for a farm or larger regional property is much more complicated than regular residential transfers. The main reason for this is that they usually involve a lot more assets than most other forms of property transfer.
When you start thinking about selling your farm, everything on the land will need to be considered. This includes stock, equipment, machinery, agricultural chemicals on site, and of course the water access.
The transfer of water allocations can be quite complex, and is a very important consideration. Crescent Conveyancers are experienced in transferring the title of water allocations and water licenses for farms. On some occasions, a Deed of Covenant needs to be entered into. This contract will ensure that the buyer is bound by the terms of the water agreement and receives the benefit of the water agreement.
Water and water access can also complicate property settlements when provisions need to be made for informal access arrangements. It is quite common for rural properties and farms to need to draw water from a river, creek or other body of water that sits on a property separate to the one being purchased.
While these are always unique circumstances, having an experienced conveyancer on hand can make your rural property settlement a smooth experience.
Accuracy is of the utmost importance in completing a rural/farm transfer successfully. There is no room for error in the area of the land, boundary fences, the carrying capacity of the land and any noxious weeds growing. Crescent Conveyancers take all of these factors, and any more that may be relevant, into consideration when selling your property. Where necessary these factors will be integrated into the settlement contract to ensure that the buyer can’t make compensation complaints at a later date.
Farms and rural property settlements also frequently involve more complex access rights than regular settlements. Often, provisions will be made for the buyer to enter the property prior to taking full control of the property in order to cultivate the land or graze cattle. The extent to which this provision is made and if this provision is made at all will depend on each individual property and the requirements of the buyers and sellers.
While rural and farming property settlements present a host of unique elements and challenges, our experienced team has the expertise and know-how to make it a smooth process for you.