Sale of Land Amendment Act 1962 – Section 32
The Sale of Land Amendment Act 2014 (Vic) (Act) will come into operation on 1 October 2014. This Act brings with it many changes to the disclosure requirements in section 32 of the Sale of Land Act 1962 (Vic). The Act repeals section 32 and re-enacts the majority of its disclosure requirements.
Key changes include:
- Inactive owners corporations will not be required to provide a certificate;
- Planning overlays affecting the land will need to be specified;
- Only services not connected will need to be specified;
- Changes requirements to ensure only government notices and approved proposals that currently and directly affect the land for sale are disclosed;
- Section 32 statements will no longer have to be included in the contract;
- A new due diligence checklist will need to be given to prospective purchasers before they buy.
To read more about the Act and how it may affect you, download our fact sheet here.
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