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Property Conveyancing in Queensland BUYING A PROPERTY IN QLD? WHAT ABOUT INSURANCE?

Updated: Sep 8, 2023

Property Conveyancing in Qld.

man holding umbrella lawyer property conveyancing in qld
Building Insurance

Did you know when you purchase a property in Queensland the risk of the property passes to the Buyer from 5pm next business day from the date of the contract?


This is a very important fact when purchasing property in Queensland not only for people in Queensland but also for interstate buyers. For "property conveyancing in Qld" it is best to be handled by a lawyer. It allows for a smooth transition as you can have someone attend to any legal issues that may arise immediately during the property conveyancing process.


Hogan Stanton Lawyers strongly advises that you immediately contact your insurance company and arrange a cover note for the property and any contents that you are buying (the cover must be for full replacement value).


There is a huge unnecessary element of risk you are taking if you do not take out the appropriate insurance.


If you are obtaining finance to purchase your property, it will be a condition and your obligation to your Bank to continue to have the property insured and your Bank interest noted on the insurance policy.





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