Land Sales Act 1984 |
The Land Sales Act 1984 regulates the sale of residential units purchased off-the-plan in Queensland. On 13 October 2011, amendments to the Act were introduced into Parliament by way of the Criminal and Other Legislation Amendment Bill 2011.
These amendments remove the current requirement for developers selling off-the-plan lots of residential units to apply for an extension of time for giving a registrable transfer, and for this extension to be prescribed in the Regulation. The benefits to consumers provided by this process are outweighed by the associated administrative burden involved for both developers and government. Instead, vendors will be able to specify the time for giving the registrable transfer in the written contract, up to a maximum of five and a half years. Otherwise, if not specified, a default period of three and a half years will apply.
The Criminal and Other Legislation Amendment Bill 2011, Explanatory Note and Explanatory Speech can be found on the website of the Queensland Parliament.
Further information on the amendments will be posted here as it becomes available.
Last reviewed 14/10/2011 |
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