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    PROPERTY IN QUEENSLAND: Introduction of the Land Sales and Other Amendment Bill 2014 in Queensland Parliament

    As published in CK Momentum Issue 3  (Click here to download)

    The Queensland Government has introduced further amendments to property legislation, specifically for the sale of off-the-plan lots, which will be of significant benefit to property developers. Legislation to amend the Land Sales Act 1984 (Qld), the Body Corporate and Community Management Act 1997 (Qld) and instalment contract provisions in the Property Law Act 1974 (Qld) were introduced into Parliament on 3 June 2014.

    Once enacted, notable changes will include the removal of the maximum deposit restriction of 10% for the sale of proposed lots under the Property Law Act 1974 (Qld) and allowing a deposit of up to 20% of the purchase price before the instalment contract provisions are triggered. Significant changes to the disclosure requirements under the Land Sales Act 1984 (Qld) in relation to proposed community title scheme lots are also intended.

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    This bulletin is produced as general information in summary for clients and subscribers and should not be relied upon as a substitute for detailed legal advice or as a basis for formulating business or other decisions. ClarkeKann asserts copyright over the contents of this document. This bulletin is produced by ClarkeKann. It is intended to provide general information in summary form on legal topics, current at the time of publication. The contents do not constitute legal advice and should not be relied upon as such. Formal legal advice should be sought in particular matters. Liability limited by a scheme approved under professional standards legislation. Privacy Policy
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