Rent-to-buy links

Media Stories and court cases

Vulnerable Australians Targeted by Unscrupulous Property Vendors (SBS News, 6/10/16)

Rent-to-Buy: Melbourne man in legal fight after losing thousands in ‘unfavourable’ housing scheme (ABC TV News, 6/10/16)

The Australian, 31/7/15 Property Spruikers Caught in Clampdown (mentions Rick Otton, Ben Chislett, Easyhomes WA)

Rogue Agent Banned After Criminal Proceedings James Monaghan, Otton former student, and “very special guest” on Otton’s podcast signs enforceable undertaking, loses estate agents licence.  Refers to Ezibuyhomes and Benny Bull Pty Ltd which are related to Ben Chislett.

Domain, 13/3/15 “Vendor Finance Under the Microscope” (Carolyn Bond)

ACCC takes action against We Buy Houses and Rick Otton regarding property strategies 3/3/15

Property spruiker facing legal action over rent to buy scheme  (Mentions Sheree Becker, “doctor of real estate”) 25/1/15

Financial Review 17/8/14 (pay wall) Rent-to-buy plans prey in property desperate

Property Observer, 23/6/14, Jennifer Duke: Consumer Affairs Victoria Taking Charge Against High Risk Rent-to-buy Schemes

ABC Lateline 24/2/14“Spruikers Exploit the Vulnerable”.

Property Observer, 10 March 2014, Jennifer Duke: “From Seminar to Success Story….to being fined in the Supreme Court of WA – how it happened.”

Property Observer, 5 March 2014,  Jennifer Duke artcle about prosecution of Susilos

The Age, Nov 2012, Warning on Risky we buy houses scheme.

My blog post for Consumers Federation of Australia

Legal action against rent-to-buy property promoter (Ms Rowan Lines / Presto Property Solutions Pty Ltd)

BBC (UK), 2011, Home Sellers Warned Over Risky Lease Option Deals

Promoters of ‘rent to buy’ property scheme named (Butkovik)

Sydney Morning Herald, 24/12/2004, Dangers of lending scheme hit home.

Neil Jenman 13/9/2013 

Neil Jenman 26/9/2003

Legal proceedings/decisions

In Sieve-storm v Murphy an owner was released from two lease option agreements because the documentation didn’t comply with conveyancing laws in New South Wales.

In Le v Tran [2016] NSWSC 632 the court didn’t find a lease option agreement misleading and deceptive or unconscionable as argued by the tenant buyer and ordered that $99,000 be paid for rent arrears and option payment arrears.  The agreement was with an ‘intermediary’ who had a power of attorney over the property.

In Evolution Lifestyles v Clarke, the vendor sought possession for payment arrears.  The court found that the rent-to-buy contract was unjust and ordered vendor to pay purchaser $115,000 compensation (September 2016)

Rowan Lines compensation for rent to buy deals (5/11/15)

Enforceable undertaking (James Monaghan) also mentions Ben Chislett. April 2015  (same link as above)

‘Rent to buy’ lawyer fined for “reckless dishonesty” 1/8/14

McOrmond v Bass Valley Constructions, David/Julie Siacci t/as Bass Valley Constructions  (failure of owner to convey property to purchaser, all payments exceeding market rent credited to purchaser)

Commissioner for Consumer Protection -v- Susilo [2014] WASC 50 (27 February 2014)

Gray v Latter [2014] NSWSC 122 (27 February 2014)

CCCT 13-02120 (tenancy hearing re option to purchase)

WA Ban for Property Investment Promoter (We Buy Houses Pty Ltd/Rick Otton)

Property Developer enters into enforceable undertaking to provide compensation for vendor finance borrowers (2011)

Legal action against rent-to-buy property promoter (Ms Rowan Lines / Presto Property Solutions Pty Ltd)

Lewis v Ormes (Commercial) [2005] NSWCTTT 481 (18 July 2005)

“Deceptive” promoters of ‘rent to buy’ property deals acted illegally (No Loan Home Pty Ltd/ Butkovic)

Johnstone v Poralka Investents Pty Ltd [2008] SADC 87 (4 July 2008) Rent-to-buy contract void due to mistake of fact.  Refers to illegality of vendor finance in South Australia.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s