Wallan · Real Estate & Conveyancing

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Top Wallan Real Estate & Conveyancing Questions

Common legal questions answered by Real Estate & Conveyancing lawyers.

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Q
How is the financial advice industry regulated in Australia?

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The financial advice industry in Australia is regulated by ASIC, which requires advisors to be licensed and comply with the Corporations Act 2001.;Advisors must adhere to the Best Interests Duty, which mandates that t...

Q
How long does bankruptcy last in Australia?

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Bankruptcy usually lasts for three years and one day from the date it is declared.;In some cases, the bankruptcy period can be extended up to eight years if the trustee determines misconduct.

Q
What assets are protected in bankruptcy?

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Protected assets typically include household goods, tools of trade, and a limited amount of equity in your home.;Certain personal items and a vehicle with limited value may also be protected from seizure.

Q
What are the consequences of bankruptcy?

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Consequences of bankruptcy include loss of assets, impact on credit rating, and restrictions on obtaining credit.;You may also face limitations on running a business and certain travel restrictions.

Q
Can I get compensation for psychological injuries?

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Yes, psychological injuries like PTSD and depression can be compensated if they are a result of the incident.;You will need medical documentation to support the claim of psychological injury.

Q
How can I declare bankruptcy in Australia?

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To declare bankruptcy, you must complete and submit a Bankruptcy Form to the Australian Financial Security Authority (AFSA).;It is advisable to seek legal or financial advice before proceeding with a bankruptcy declar...

Q
What insurance is required for construction projects?

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Construction projects typically require public liability insurance, workers' compensation insurance, and home warranty insurance.;These insurances protect builders and clients from financial loss due to accidents or d...

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