Talk about a hot spot. The old adage “neither a borrower nor a lender be” is all good in theory – until you’re a doting parent confronted by your desperate, cap-in-hand child, all too aware you hold the only key to them getting into their own home.
There’s the old saying that “possession is nine-tenths of the law”. But, if there’s one piece of legislation that sets that concept on its ear, it’s the Personal Property Security Act (PPSA) – unfortunately, though, many businesses that supply and lease goods on hock still aren’t using this helpful credit control tool.
When it comes to “pushing the boundaries” in terms of property law, an area that throws up some interesting – and challenging – issues is encroachment.
Welcome to our second instalment of Caveat venditor, where we’re exploring the very real risks sellers can face during – and well after – property transactions.
If you haven’t already, you can check out part 1 here.
Caveat Emptor – buyer beware –is a well-worn phrase that underscores the importance of potential buyers doing their homework before agreeing to any purchase – and living with the fallout if they don’t.