On 1 September 2017, a number of changes to the Conveyancing (Sale of Land) Regulation 2017 will commence including:-
- Further prescribed warranties and adverse affectations (including strata renewal, s 121B Orders and s235C rights of way) are being added to the list.
- If a Vendor breaches any warranty the Purchaser may rescind the Contract, without penalty, at any time before settlement.
- Additional prescribed documents must now be attached to contracts or options in relation to residential properties including sewer location plan, strata by-laws and warning statement about loose fill asbestos.
- Failure to include these documents or statements entitles a Purchaser to rescind the Contract, without penalty, within 14 days of exchange.