In this article we explore the new Property Law Act 2023 and the changes in relation to the appointment of Statutory Trustees as compared against Section 38 of the Property Law Act 1974 (Qld).

The new Act passed Parliament on 25 October 2023 and received Royal Assent on 2 November 2023 with the commitment date to be set by proclamation. At this stage commencement of the 2023 Act has been delayed.

Subdivision 2 (Section 33 to 40) of the 2023 Act deals with the sale and division of co-owned property including the appointment of a Statutory Trustee.

If property disputes reach a stage whereby one party applies to a Court for the appointment of statutory trustees, then the specific orders sought and made, are of critical importance.

In this article we explore how the specific orders made by a Court when appointing statutory trustees to sell real property can either simplify or greatly complicate the actual appointment processes and results.

In this article we explore how the appointment of a statutory trustee interacts with deceased estates and disputes between beneficiaries of an estate holding real property.

There are a few key reasons why a dispute may arise between the beneficiaries of a deceased estate (named or otherwise). Some possible examples might include the respective wealth of each beneficiary, lifestyle choices, the value proposition of real property as an investment, which is further accentuated by the ever-decreasing affordability of housing for younger generations.

In this article, we explore how the appointment of a statutory trustee interacts with family law property disputes. Disputes often arise during property settlements between separated couples and a Statutory Trustee is a person or persons appointed by the Court for the purpose of facilitating the sale of real property where there is a dispute between one or more of the co-owners, to aid in the fair and equitable distribution of proceeds.

In our previous article, we provided details about the process for appointing a Statutory Trustee in Queensland and outlined the benefits, as well as the key actions they perform in undertaking their duties. In this article we explore how the various States deal with resolving property disputes.

Owning a home, land or similar property with another person/entity is often the path of least resistance to entering the real estate market. However, with shared ownership comes shared decision making and over time personal opinions and individual circumstances can change. Disagreements may also arise, leading to a need to sell the property. If both parties are not on the same page and a sale becomes a matter of when, not if, it may become necessary to apply to Court, seeking the appointment of a Statutory Trustee pursuant to Section 38 of the Property Law Act 1974 (Qld).