Property Law

By Olivia Wright

03.12.21

The ‘Santa’ Clause

As the Holiday period nears, it is important to be mindful that most Legal Firms and banks will close for a short period of time over the Christmas/New year break.

The ‘Santa’ Clause is something you will need to consider, when buying or selling around this time of year.

What is the ‘Santa’ Clause?

A standard contract will have a set settlement date where penalties may apply due to any completion delays.

The ‘Santa’ Clause (also known as the ‘Holiday Period’ Clause or the ‘Christmas’ Clause) is a condition in a Contract that will protect both parties in the event that your settlement date lands during the holiday shutdown.

Why it’s important

There are several factors in any settlement that could cause a delay with completion, which are often outside of your control. Delays are very common around this time of year, as everyone is trying to settle and finalise their matters before the holiday break.

Even if you and your Solicitor are very diligent and efficient, these delays are still possible and hard to avoid.

Should you have a ‘Santa’ Clause included in your Contract, your rights will be protected in the event of an unfortunate delay.

At Aulich, we are a boutique, upfront business offering a personable, satisfactory and high-end experience to our clients. We understand how important your property is to you, especially at such a busy time of year.

If you are buying or selling a property, contact our Conveyancing team today on 02 6279 4222 or email us at property@aulich.com.au.