Exposure draft Property Law Bill 2022 released for comment
An exposure draft of the Property Law Bill 2022 has been released for comment.
The Bill is to introduce a statutory seller disclosure scheme in Queensland. The scheme would make it mandatory, with some exceptions, for a seller of freehold land to disclose information to a buyer by giving a disclosure statement and prescribed certificates.
There is currently no general seller disclosure regime in Queensland and disclosure obligations may be imposed by contract, statute and common law. The seller disclosure regime will consolidate disclosure obligations from a number of sources into a single document. The intent is to simplify freehold land contracts and assist buyers to make informed decisions about purchasing land.
A statutory seller disclosure scheme was a recommendation of the review of Queensland’s property law conducted by the Commercial and Property Research Law Centre, Queensland University of Technology.
The exposure draft of the Bill and draft disclosure statements are available at: Statutory seller disclosure scheme in Queensland - Dataset - Publications | Queensland Government