Short answer…no – only under certain circumstances.
When you may be able to amend a name…
In QLD once a property contract is fully executed by the buyer/seller and dated, the name of the parties cannot be changed. It may be possible for minor changes be made such as:
- Correcting misspelled names:
Name spelling must be correct for banks to issue finance, to register a property in the buyers name or for transferring the property from one person to another. Spelling errors can usually be amended by formal agreement of both the buyer & seller through their solicitors.
- Adding or deleting a middle name:
If a person’s middle name has been omitted (or an additional one written) on the contract which doesn’t match up with a formal type of I.D. (such as birth certificate, passport or driver’s licence), this will prevent a bank from being able to provide finance for a property, as they need to formally identify the person. Middle names can usually be added or removed from a contract by formal agreement of both the buyer & seller through their solicitors.
Changes that definitely CANNOT be made…
- Another person added to contract:
In QLD once a contract is signed, the buying and selling entities are final. This means, another party (person) cannot be added to a fully executed contract. If you needed to add another party to a contract, the buyer and seller would have to agree to rescind the incorrect contract and enter into a new contract with the correct entities noted. There are likely to be additional legal fees associated with this process.
- Buyer’s name “or nominees”:
In QLD the buyer cannot use the statement “or nominees” to change the buying entity at a later date unless the nominees were nominated PRIOR to signing the contract. Methods for rectifying this would be the same as above.
It is so important to have the correct names on contracts in QLD to prevent you having extra hassle and extra cost. Discuss your contract with Sempre Vero Lawyers before you sign, or if you find yourself with one of the issues above, we can guide you through your legal options.