Good Evening Everyone,
A family member is currently on bail in NT charged (in May) with trafficking a commercial quantity of marijuana. Whilst up there, the house he rented in VIC was raided and steroids and a firearm was found. I believe the intent of VIC police is to charge him with trafficking/supply of steroids and possibly other related charges.
He owns (outright) a property in country Vic he would like to keep in the family so he can go there with his children when this is all over, whenever that may be. Just before he was charged in NT he took out a business loan secured on the property.
I am considering getting a mortgage to purchase the property (value $200k) for the cost of the debt ($150k) so that the property remains in the family however I have concerns that the police may try and seize the property under proceeds of crime laws. The property was purchased approximately 12 months ago.
Can the police seize the property from me if I purchase it? Is there anything else I should be aware of as part of my decision making process?
Many thanks in advance for your replies.
A family member is currently on bail in NT charged (in May) with trafficking a commercial quantity of marijuana. Whilst up there, the house he rented in VIC was raided and steroids and a firearm was found. I believe the intent of VIC police is to charge him with trafficking/supply of steroids and possibly other related charges.
He owns (outright) a property in country Vic he would like to keep in the family so he can go there with his children when this is all over, whenever that may be. Just before he was charged in NT he took out a business loan secured on the property.
I am considering getting a mortgage to purchase the property (value $200k) for the cost of the debt ($150k) so that the property remains in the family however I have concerns that the police may try and seize the property under proceeds of crime laws. The property was purchased approximately 12 months ago.
Can the police seize the property from me if I purchase it? Is there anything else I should be aware of as part of my decision making process?
Many thanks in advance for your replies.