SALE OF LAND ACT 1962

Table of Provisions

• Long Title

• 1 Short title and commencement  
• 2 Definitions  

PART I--SALE OF LAND

Division 1--General provisions relating to the sale and subdivision of land

• 8 Apportionment of mortgage moneys where land subdivided  
• 8A Land which can be disposed of without being subdivided  
• 9AA Sale of land prior to approval of plan  
• 9AAA Insurance  
• 9AB Disclosure of works  
• 9AC Amendments to plan  
• 9AD Possession  
• 9AE Rescission of an off-the-plan contract  
• 9AF Repayment of deposit moneys  
• 9AH Where land sold does not accord with land in plan  
• 10 Amendment affecting pre-sold lots  
• 10A Residential off-the-plan contracts and sunset clauses  
• 10B Power of vendor to rescind a residential off-the-plan contract under sunset clause  
• 10C Inconsistent provision of no effect  
• 10D Purported rescission a breach of a residential  
• 10E Vendor may obtain order of Supreme Court to rescind  
• 10F Information to be included in sunset clause  
• 10G Prohibition on recovering land tax under contract of sale of land  
• 10H Prohibition on recovering windfall gains tax under option or contract of sale of land  
• 10I CPI adjusted threshold amount  
• 11 Owners corporation must have insurance policy  
• 12 Offences in relation to the sale of land  
• 12A Guidelines  
• 13 Burden of proof as to knowledge of falsity of representation  
• 14 Certain agreements void  
• 14B Further powers of arbitrator with respect to subdivisional land  
• 15 Notices  
• 15A Approved building manual must be given to purchaser of land  
• 16 Offences  
• 17 Regulations  

Division 2--Arbitrators

• 18 Power to Governor in Council to appoint arbitrators  
• 19 Appointment of arbitrators  
• 20 Power to arbitrators to appoint assessors  
• 21 Jurisdiction and powers of arbitrators  
• 22 Regulations  

Division 3--Deposits

• 23 Definitions  
• 24 Deposit moneys held by legal practitioner, conveyancer or estate agent to be held as stakeholder  
• 25 Deposit moneys to be paid into special purpose account or held by legal practitioner, conveyancer or estate agent  
• 26 Application of deposit moneys where contract rescinded  
• 27 Release of deposit moneys in certain circumstances  
• 28 Powers of purchaser where contract in contravention of this Division  
• 29 Effect on terms contract deposit provisions  

Division 4--Terms contracts

• 29A What is a terms contract?  
• 29AB Definitions  
• 29B Which terms contracts are prohibited?  
• 29C Exceptions to prohibition  
• 29D When is a person presently entitled to become the registered proprietor?  
• 29E Mistakes or mis-statements as to description  
• 29EA Additional prohibited terms contracts  
• 29EB Offence to arrange, broker or induce certain terms contracts  
• 29EC Offence to advertise certain terms contracts  
• 29F Purchaser may avoid prohibited terms contract  
• 29G Certain provisions of terms contract void  
• 29H Purchaser may call for a transfer on giving a mortgage back  
• 29I What must the mortgage provide  
• 29J Failure of vendor to comply with requirement  
• 29K Subdivision to apply despite Trustee Act 1958 and other Acts  
• 29L Arbitrator may determine questions  
• 29M Restrictions on sale of land  
• 29N Purchaser may avoid contract  
• 29O Exception if mortgage to be discharged  
• 29P Land subject to a terms contract not to be mortgaged by vendor  
• 29Q Vendor may require purchaser to execute mortgage  
• 29R Vendor to advance amount for duty payable  
• 29S Contravention of mortgage requirements  
• 29T Failure by purchaser to comply with notice  
• 29U Arbitrator may determine questions  
• 29V Constructive notice  
• 29W Legal practitioner or conveyancer not to act for both vendor and purchaser under a terms contract  

Division 5--Rent-to-buy arrangements

• 29WA Application of Division  
• 29WB Definitions  
• 29WC Prohibition on rent-to-buy arrangements  
• 29WD Offence to arrange, broker or induce rent‑to-buy arrangement  
• 29WE Offence to advertise rent-to-buy arrangements  
• 29WF Avoidance of certain rent-to-buy arrangements  
• 29WG Return of money paid under contract to purchaser  

Division 6--Options to purchase

• 29WH Options to purchase  
• 29WI Offence to fail to transfer money  

PART II--MISCELLANEOUS PROVISIONS

• 30 Definitions  

Division 1--Cooling-off periods

• 31 Power of purchaser to terminate a contract for sale of land  
• 31A Validation of notice given to estate agent  

Division 2--Section 32 statement

• 32 Statement of matters affecting land being sold  
• 32A Financial matters in respect of the land to be disclosed in section 32 statement  
• 32B Insurance details in respect of the land to be disclosed in section 32 statement  
• 32C Matters relating to land use to be disclosed in section 32 statement  
• 32D Notices made in respect of land to be disclosed in section 32 statement  
• 32E Building permits issued in respect of land to be disclosed in section 32 statement  
• 32F Information relating to any owners corporation to be disclosed in section 32 statement  
• 32G Growth areas infrastructure contribution details to be disclosed in section 32 statement  
• 32H Disclosure of non-connected services in section 32 statement  
• 32I Evidence of title required to be disclosed in section 32 statement  
• 32J Information required for a section 32 statement contained in a certificate, notice, policy of insurance or other document  
• 32K Supply of false information or failure to supply information in section 32 statement or failure to supply section 32 statement may result in rescission  
• 32L Offence to provide false or incomplete information in section 32 statement or fail to provide statement  
• 32M Other circumstance where purchaser may rescind contract of sale  
• 32N Contract provision that excludes, modifies or restricts Division is void  
• 32O Circumstance where vendor is not required to give purchaser another section 32 statement  
• 32P Agreement to transfer forest carbon right not a contract for the sale of land  

Division 2A--Due diligence checklist

• 33 Definitions  
• 33A What is a due diligence checklist?  
• 33B Due diligence checklist to be made available  
• 33C Due diligence checklist to be published on Internet  

Division 3--Insurance

• 34 Power of purchaser to rescind contract where house destroyed  
• 35 Insurance held by vendor to enure for benefit of purchaser  
• 36 Damage to land  

Division 4--Public auctions

• 37 This Division applies to publicly advertised auctions  
• 38 Dummy bidding prohibited  
• 39 Offences by auctioneers  
• 40 Offence to procure dummy bid  
• 41 Permissible vendor bids  
• 42 Offence to falsely acknowledge bid  
• 43 Conditions of auctions to be made available before auction starts  
• 44 Right to compensation if Division breached  
• 45 Contrary conditions are void  
• 46 Last vendor bids must be identified if property passed in  
• 47 Disruption of auction prohibited  
• 48 Regulations  

PART IIA--ENFORCEMENT

• 48A Application of Australian Consumer Law and Fair Trading Act 2012  
• 48B Infringement notices  

PART 3--SAVINGS AND TRANSITIONAL PROVISIONS

Division 1--Miscellaneous

• 49 Application of amendment to section 32—Agriculture Legislation (Amendments and Repeals) Act 2002  
• 50 Transitional provision—Purchaser may deduct growth areas infrastructure contribution from purchase price  
• 51 Amendment to section 9AA—Consumer Affairs Legislation Amendment (Reform) Act 2010  
• 52 Substitution of Division 2 of Part II—Sale of Land Amendment Act 2014  

Division 2--Sale of Land Amendment Act 2019

• 53 Definition  
• 54 Residential off-the-plan contracts and sunset clauses  
• 55 Residential terms contracts  
• 56 Rent-to-buy arrangements  
• 57 Options to purchase  
• 58 Apportionment of amounts under contracts of sale of land  
• SCHEDULE 1
• SCHEDULE 2
ENDNOTES