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Changing name on IP contract (QLD)

Discussion in 'Legal Issues' started by D&J, 13th May, 2016.

  1. D&J

    D&J Active Member

    20th Jun, 2015
    Hi all,

    I have a very interesting scenario which I am trying to work through.

    I previously negotiated and exchanged on an IP up in Brisbane but the vendor and I couldn't come to an agreement on a revised price after taking into account termite chemical barrier costs that I would have to incur. As a result, the contract fell through.

    The property has now come back on the market through a different agent for a slightly lower price. I was thinking I could place an unconditional offer for less than before and then absorb the chemical barrier costs. However in order to do so I don't want the vendor to know it is me placing the offer. The vendor was quite stubborn and I imagine would either not want to negotiate with me again and if they did, would want to stick to the originally agreed upon price.

    Can I have my wife exchange unconditionally in her name only, so as a 'new' interested party in the vendors eyes and then my wife and I swap names on the contract pre-settlement (so into my name only)? I imagine if we could do something like this, then by this stage the contract is binding so it doesn't matter if the vendor then recognises my name.

    I will be speaking with my lawyer on Monday but wanted to hear some thoughts and opinions before hand.