Victorian Consolidated Legislation

Land Act 1958 - SECT 98

Minister may declare contract of sale void on default

98. Minister may declare contract of sale void on default



(1) Where a purchaser of land under this Division-

   (a)  fails to pay any money due under the contract of sale on the day it
        falls due; or





   (b)  fails to observe or perform any condition of the contract of sale-

and does not rectify the matter within 30 days after receiving written notice
from the Minister to do so, the Minister may declare by notice published in
the Government Gazette that the contract is void.

(2) Where a declaration is made under subsection (1) that a contract for the
sale of land is void-

   (a)  the declaration shall have effect according to its tenor;

   (b)  any money paid for the land under the contract shall be forfeited to
        the Crown; and

   (c)  the Minister may proceed to recover and take possession of the land.

(3) Where a declaration is made under subsection (1) that a contract for the
sale of land to a purchaser is void, the Minister, if he sells the land to
another purchaser, may, after allowing for any deficiency in the purchase
price so obtained and after taking into account the expenses of that sale,
refund to the first-mentioned purchaser the whole or any part of any money
which was forfeited to the Crown as a result of the declaration.