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VIC Signed Deeds to Property Developer - Girlfriend Changed Her Mind?

Discussion in 'Other/General Law Forum' started by Bizza32, 25 June 2015.

  1. Bizza32

    Bizza32 Member

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    Hi,

    I am hoping someone out there can help. My girlfriend has been pressured into signing a joint venture with a property developer that requires her to sign over the deeds on her property so he can knock it down and build two townhouses. She now realises how silly this was to do and wants to get out of it and has asked the developer to release her but he is not playing ball.

    Any and all help would be great as she is not coping well with all the stress associated with this and her solicitor has been no help at all.
     
  2. Steve500

    Steve500 Well-Known Member

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    Bizza32
    All Legal stuff is often stressful, a few tips.
    -Maybe look at finding a new solicitor as many may give different opinions in there area of Law
    -And look at "Litigation Funding" services companies, google it. Like Home-Loans, these providers specialise is financing ones legal-bills if they can't pay up-front legal fees to there solicitor. Often they liaise with solicitors, so your girlfriend's solicitor might be able to write them a letter, so it's proper and organised and smooth, to get an approval or rejection for funding.
    -And in law-stuff, when one party plays hard-ball, the only way to deal with them is successful legal-action, only way they will respond. If they see your girlfriend is organised and has money for solicitors/barrister(if it goes to court), they may offer an out of court settlement and try and mediate with your girlfriend's solicitor. These things are always upsetting, and often it's a case of one party bullying the other, confident that the weaker party has no money for lawyers, but once they see that party has adequate legal representation the contemptuous attitude drops against them, and they start taking them seriously. These things are unfortunate, and in future, word of advice! Any big signing, always sign only when it has been reviewed by a lawyer, the contract.
    -Also in Australian consumer law, there are terms like "gross unequal bargaining power", "unconscionable conduct", not sure it's relevant here, but maybe.
    But yep a few ideas good luck to your girlfriend, hope it works out well for her and she gets the solution and outcome she wants.
     
  3. Bizza32

    Bizza32 Member

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    Hi Steve
    Thanks for your response I will forward your suggestions re funding to her. She has no money except for the 100% equity she has in her house and as yet has not signed over the actual deed, only the Joint Venture that says she will. The developer she is dealing with agrees to cancel the Joint Venture when others are there to back her up then comes around the next day and sweet talks her into going ahead. My concern is if she defaults on the Joint Venture, by not signing over the deed, that he can sue her and she could loose everything.

    I don't know about you but in my mind him wanting her deed so he can secure the loan for the build (approx 1.5 million) - her to have ownership of one town house and him to get another loan to buy the other apartment, thus paying off the original load and leaving my friend with 400,000.00. Is as dodgy as hell, if he goes broke or anything everything will fall back on her and she could loose everything as she has no income and could not service the loan to finish the build.

    Where if she sells the property outright, its an ideal development sight, she could downsize as she is by herself and have 600,000.00 cash for retirement.

    She didn't want to sign the Joint Venture but the developer kept calling her and dropping in telling her she had to sign, there's no risk etc. She really signed under duress her health is suffering because of all the stress she is a complete mess.

    Thanks again for your input
    Smile
     

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