Queensland Property Law Act 2023
Chapter 4 Part 2: Seller disclosure for sales of lots (the statutory disclosure scheme) – Queensland Property Law Act 2023

Queensland Property Law Act 2023 104-106: Buyer's termination right for failure to disclose or inaccurate disclosure; repayment within 14 days

What does 104-106 require?

If the seller fails to give a disclosure statement or an applicable prescribed certificate before the buyer signs, or gives one that is inaccurate or incomplete in relation to a material matter at the time the contract is signed and the buyer was not aware of the correct state of affairs and would not have entered the contract had the buyer been aware, the buyer may terminate at any time before settlement by written notice. The seller must within 14 days after termination repay all amounts paid towards the purchase (to the seller, the agent or any other entity under the contract) with the interest that accrued. Where the inaccuracy is in a prescribed certificate given by a body corporate or other entity, termination is the only remedy against the seller (section 106).

Maintained by Gerard Blokdyk

Other controls in Chapter 4 Part 2: Seller disclosure for sales of lots (the statutory disclosure scheme) – Queensland Property Law Act 2023

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