Property & Projects

The Conveyancing (Legislation) Amendment Act 2018 (Act) was passed by Parliament on 13 November 2018. It deals with aspects of electronic land transactions and off-the-plan sale contracts for residential property. The sections of the Act dealing with electronic land transactions took effect on assent being 22 November 2018. The sections…

Sunset clauses are common in off the plan contracts or other contracts where the vendor has obligations to satisfy conditions precedent to complete (Contract). Off the plan contract means a contract for the sale of a residential lot (subject lot) that has not been created at the time that the…

The Strata Building Bond Scheme, which was introduced by the Strata Management Act 2015 (the Act), provides that in situations where the Act applies (See New strata law and building bond regime are set to commence), the developer must give a security (“building bond”) to the Secretary of the Department…

A bill has recently passed through both Houses of the NSW Parliament entitled the State Revenue Legislation Amendment (Surcharge) Bill 2017 (NSW) (Bill) which targets Australian-based developers that are foreign persons (Foreign Developer). It has received assent but is to commence on a date to be proclaimed. We await the…