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Gold Prospecting
Small Scale Gold Mining
Qld buying a lease
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<blockquote data-quote="snafu" data-source="post: 74269" data-attributes="member: 1252"><p>G'day BrisJoe,</p><p></p><p>There is a fair bit of paperwork involved here in Qld with transferring tenancy from one party to another. I guess the trap for unwary players is mainly the matter of any outstanding royalties & duties that might apply to the seller. </p><p></p><p>I am not 100% sure that the buyer could be held accountable for any outstanding debts to a Govt agency, but to ensure any future hassles in the transaction it is best to check in with the Dept of Natural Resources & Mines before handing over any hard earned cash. I have heard of a few horror stories here around Sapphire in regards to buyers inheriting some massive debts because they have been a bit slack when it comes to due diligence in transferring tenancy. </p><p></p><p>Hope it all goes smoothly for you.</p><p></p><p>Jeff</p></blockquote><p></p>
[QUOTE="snafu, post: 74269, member: 1252"] G'day BrisJoe, There is a fair bit of paperwork involved here in Qld with transferring tenancy from one party to another. I guess the trap for unwary players is mainly the matter of any outstanding royalties & duties that might apply to the seller. I am not 100% sure that the buyer could be held accountable for any outstanding debts to a Govt agency, but to ensure any future hassles in the transaction it is best to check in with the Dept of Natural Resources & Mines before handing over any hard earned cash. I have heard of a few horror stories here around Sapphire in regards to buyers inheriting some massive debts because they have been a bit slack when it comes to due diligence in transferring tenancy. Hope it all goes smoothly for you. Jeff [/QUOTE]
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Gold Prospecting
Small Scale Gold Mining
Qld buying a lease
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