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IMPORTANT INFORMATION RELATING TO THE INTRODUCTION OF THE NEW SELLER DISCLOSURE CERTIFICATES

October 22, 2024

Members should be aware the Property Law Act 2023, including the new seller disclosure framework, will start on 1 August 2025 and the forms have now been published.

The Property Law Regulation 2024, the Body Corporate and Community Management (Body Corporate Certificates) and Other Legislation Amendment Regulation 2024 and the Proclamation – Property Law Act 2023 are also available.

The regulations set out the prescribed information and prescribed certificates for the seller disclosure framework for the sale of land and lots in a community titles scheme.  

The Property Law Regulation 2024 prescribes various matters to support the operation of the seller disclosure scheme, including the information and certificates which must be disclosed by the seller of a lot before a contract for the sale of the lot is signed by the buyer.

It also prescribes that a body corporate certificate is a prescribed certificate for the sale of an existing lot in a community titles scheme.  The Form 2 Seller disclosure statement is available here.

The Body Corporate and Community Management (Body Corporate Certificates) and Other Legislation Amendment Regulation 2024 prescribes the matters that must be included in the approved form for a body corporate certificate for a lot included in a community titles scheme. The approved forms for body corporate certificates under the Body Corporate and Community Management Act 1997 are available here and approved forms under the Building Units and Group Titles Act 1980 are available here.

Article Contributed by Laura Bos, General Manager, Strata Community Association (QLD)

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