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- When youre buying a property its very important to make sure you know what name is actually going on the contract. Now that may seem obvious or a little bit crazy to say, but we often have people who are unsure if its going to go in one persons name or both parties names, for example husband and wife. One name only, both names. Two brothers, one name or both names. Or individual names, or a company, or a business name, or a superannuation fund, family trust. A whole range of different things. Whats important is that before you come to purchase the property, that you check with your broker, your solicitor, perhaps your accountant, as to what name will actually go on the contract for sale, because its a legally binding document. We had one incident recently, people bought a property at auction. They wanted to change from an individual name into a company name. The perception was, quite simple to do, but when youve entered a binding contract at auction with no cooling-off period
