Webinar Replay
Click here to download a PDF copy of the presentation slides.
On Friday 4 March 2022, Russell Kennedy hosted its fifth Government CPD session, Divesting Leasehold and Disposal of Freehold Interests: Considerations for Government. This session is worth 1 CPD Point in Substantive Law.
This session was aimed at all government lawyers, officers, and stakeholders who are involved in leasing or disposing of public land, whether on a project basis or otherwise.
As a result of COVID-19, many organisations are re-evaluating their property portfolios and considering options for divestment or disposal.
For government, in addition to considering strategies and options for disposal and divestment, a number of complex policies and procedures apply to the leasing and disposal of public land, to ensure compliance with any statutory requirements, improve transparency and probity, and maintain best practice.
Failure to comply relevant policies and procedures can cause project delays, interfere with the ability for Government to do business, lead to a loss of faith from external stakeholders, and expose Government to claims (whether from aggrieved counterparties, or third parties whose interests were prejudiced by a failure to follow policy).
This session considered:
- Key policies and who is obliged to comply with them
- Key stakeholder considerations for disposing of leasehold and freehold interests
- Summary of what is a freehold interest and brief overview of steps involved in disposal of freehold interests
- Summary of options for divesting leasehold interests
- Potential risks involved if processes are not followed
This session was presented by Samantha Taylor, Principal and Shaun Burmester, Senior Associate from Russell Kennedy’s experienced Property team. They provided a general understanding of the overall processes involved in divesting leasehold and disposing freehold interests and relevant considerations.
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