Victorian Consolidated Legislation

Sale of Land Act 1962 - SECT 9AF

Repayment of deposit moneys

9AF. Repayment of deposit moneys



(1) If-

   (a)  the vendor rescinds a prescribed contract of sale of a lot as a result
        of a default by the purchaser, the vendor shall be immediately
        entitled to be paid the deposit money in the vendor's own right; or

   (b)  the purchaser rescinds a prescribed contract of sale of a lot as a
        result of a default by the vendor or pursuant to section 9AC or 9AE,
        the purchaser shall be entitled to the immediate return of the deposit
        moneys less the amount of any occupation fees paid by the purchaser.

(2) Nothing in subsection (1) shall limit or affect the power of the court-

   (a)  to order the repayment of the deposit moneys (whether that order is
        made pursuant to section 49(2) of the Property Law Act 1958 or
        otherwise); or

   (b)  to relieve a purchaser against forfeiture of the deposit.



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