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Gold Coast sale disclosure

Warren Wackerling Ė 19 July 2013

If youíre selling property in the Gold Coat City Council area, beware of special requirements imposed by Councilís new Local Law No. 17 (Maintenance of Works in Waterway Areas) 2013 which commenced on 5 July 2013.

In a nutshell, the Local Law applies to in Councilís area which is either land on which, or waterfront land connected to, a revetment wall, training wall, a jetty or pontoon.The seller must prior to the contract becoming binding, disclose to the buyer as a term of the contract, that the land is subject to Local Law 17 and details of the facts making it subject to and the maintenance obligations on the land owner, under Local Law 17.

Failure to disclose is an offence committed by the seller and entitles the buyer to terminate the contract the contract before settlement.

Does this affect me?

Itís important that any land sale in the Gold Coast City Councilís area take advice of whether Local Law 17 applies to the sale.Failing to ensure that simple step is considered before signing a contract could result in a legal right of a buyer to terminate at any time.