Victorian Consolidated Legislation

Sale of Land Act 1962 - SECT 11

Owners corporation must have insurance policy

11. Owners corporation must have insurance policy



(1) A person cannot sell a lot affected by an owners corporation unless the
vendor or the owners corporation has a current insurance policy in accordance
with the Owners Corporations Act 2006 for any insurance required by that Act
to be effected by the owners corporation.

(2) If a lot is sold in contravention of subsection (1) the purchaser may
avoid the sale at any time before the contract is completed.