Addendum To Add Buyer To Contract Template for Australia

The Addendum To Add Buyer To Contract is a crucial document in Australian property transactions where an additional purchaser needs to be added to an existing contract of sale. This situation commonly arises when family members, business partners, or other parties wish to join the purchase after the initial contract has been signed but before settlement. The addendum ensures legal compliance with Australian contract law and state-based property legislation, protecting all parties' interests while maintaining the validity of the original contract. It includes essential details such as the original contract reference, all parties' information, joint liability provisions, and any modified financial arrangements. This document is particularly important for proper recording at the land registry office and may have implications for stamp duty and financing arrangements.

1. Parties: Identifies all parties to the addendum including original parties and new buyer

2. Background: References the original contract details including date, parties, and property description

3. Definitions: Defines key terms used in the addendum, including references to original contract definitions

4. Addition of New Buyer: Formally states the addition of the new buyer and their details

5. Joint and Several Liability: Confirms that all buyers are jointly and severally liable for the contract obligations

6. Original Contract Terms: Confirms all other terms and conditions of the original contract remain unchanged

7. Effective Date: Specifies when the addition of the new buyer takes effect

8. Execution: Signature blocks for all parties including the new buyer