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SALE OR LEASE OF PROPERTY

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					NSW Trustee and Guardian



SALE OR LEASE OF
PROPERTY
FACT SHEET NUMBER 10


Sale or Leasing of Real Estate

The sale or lease of real estate is sometimes necessary to meet a client’s financial
needs. The NSW Trustee and Guardian (NSWT&G) takes into account many issues
when making this decision.

Wherever possible the NSWT&G will maintain and preserve a client’s finances. The
sale or lease of a client’s property will occur if the client is financially dependent on the
sale or lease or if the property costs too much to keep.

Appointment of a real estate agent

A real estate agent will be appointed to provide a sales and leasing report to assist the
NSWT&G to determine what is best for the client. A real estate agent will be appointed
to act should a sale or lease proceed.

Appointment of a solicitor

A number of law firms have been selected to represent NSWT&G clients in matters
concerning the sale of a client’s property. The NSWT&G will choose a law firm and will
instruct the representing solicitor to act on behalf of the client.

Valuation of a property

The NSWT&G will seek a valuation of a client’s property if there is any doubt about the
selling price or a sale by private treaty is recommended by the real estate agent. The
NSWT&G uses a registered valuer to provide professional valuations of properties. A
different valuer may be used if necessary.

Financial forecast

In order for the sale or lease of a property to be approved a financial forecast must be
organised. A financial forecast will identify how the sale or lease of a property will affect
the remainder of a client’s finances by taking into account the income and expenditure
of the estate over the medium to long term.


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Decisions in Writing

The sale or lease of a property is a significant decision. (Please see the
Reasons for Substitute Decisions fact sheet for information on significant
decisions). NSWT&G prepares a Reasons for Significant Decision
document and inform the client, their family, close friends or guardian of the
decision to sell or lease a property in writing.

Review of Substitute Decisions

NSWT&G will clearly explain the reasoning behind substitute decisions.
NSWT&G understands that clients and their family, close friends or guardian
don’t always agree with substitute decisions that are made and want the
decision reviewed. If this is the case, the NSWT&G encourages you to write
to the Manager, Quality Service and Community Relations requesting a
Review of Decision. It is helpful to outline why you think the decision is not in
the protected person’s best interest.




This document has been prepared by the Attorney General’s Department of NSW for general information purposes. While
every care has been taken in relation to its accuracy, no warranty is given or implied. Further, recipients should obtain their
own independent advice before making any decisions that rely on this information.                                       11/07



                                                 NSW Trustee and Guardian
                                                    160 Marsden Street
                                                     Locked Bag 5115
                                                  Parramatta NSW 2124

 Phone: (02) 8688 2600               Facsimile: (02) 8688 9783     Toll Free: 1300 360 466                      TTY: 1800 882
                                                           889
                                             Email: opcmail@opc.nsw.gov.au

				
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