Sale of land act 1962 vic legislation

Developing legislation with the Office of the Chief Parliamentary Counsel Contact us The Victorian Government acknowledges Aboriginal and Torres Strait Islander people as the Traditional Custodians of the land and acknowledges and pays respect to their Elders, past and present. Short title and commencement 2. Apportionment of mortgage moneys where land subdivided 8A. Land which can be disposed of without being subdivided 9AA.

Vendors and agents cannot knowingly conceal from a prospective buyer any material facts about a property when selling land.

The Director of Consumer Affairs will publish guidelines to assist vendors and agents to understand what. Penalty: In the case of a body corporate: 6penalty units. In any other case: 2penalty units. It will be an offence for a person to ‘knowingly’ (previously ‘fraudulently’) conceal a material fact with the intention of inducing any person to buy land.

This obligation is in addition to the prescribed list of disclosure items contained in Sof the SLA. The amendments aim to address ongoing issues in the Victorian property market, which the Government considers pose risks for consumers. A vendor must not knowingly or recklessly— (a) supply false information to the purchaser in a section statement.

Submissions will be made available on our website after the closing date for each paper.

It is rare for a section statement not to be presented to the purchaser before signing the contract of sale. However, it does happen regularly that a section statement is defective, and not identified during the due diligence. VIC ) Back View Legislation.

Source Victorian Legislation and Parliamentary Documents. Changes to Legislation. Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent l. Sale of Land Act amendments. An important amendment that is already in place is regulation about the use of sunset clauses in off-the-plan contracts.

The LIV is concerned that some of the amendments to s9AA of the SL Act will substantially undermine the efficiency and certainty of. Maximum penalty—2penalty units or year’s imprisonment. The changes, which were proposed last year but failed to pass before the State. Land is the predominant focus of Western property law, particularly Australian property law. Legal developments in this field outweigh the development of other forms of property law, this is primarily due to the high value of land in comparison to other forms of property, such as chattels.

Consolidated legislation for the Commonwealth is updated daily and updated weekly for each of the states. This service also includes full-text repealed legislation for these jurisdictions. Legacy Intranet Server dms003.

Thank you to Stephen Wilcox, solicitor, for pointing out that the further deferral of the proposed amendment to s. See also Planning and. Alternatively, the Vendor contended that the real estate agent’s role was merely confined to a marketing and sale mandate and that the real estate agent did not have authority to receive a termination notice. TimeBase is an independent, privately owned Australian legal publisher specialising in the online delivery of accurate, comprehensive and innovative legislation research tools including LawOne and unique Point-in-Time Products.