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ARTICLE · 27 JUNE 2014

Reducing red tape for property development in Queensland

Holding Redlich
Holding Redlich
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Holding Redlich

Holding Redlich

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The Bill, of particular benefit for developers, is designed to reduce red tape in the sale and purchase of property.

AustraliaReal Estate and Construction

The Queensland Government has introduced the Land Sales and Other Legislation Amendment Bill 2014 (Bill). The Bill proposes amendments to the Land Sales Act 1994 (LSA), Property Law Act 1974 (PLA) and Body Corporate and Community Management Act 1997 (BCCM).

The Bill is designed to reduce red tape in the sale and purchase of property. The changes will be of particular benefit for developers.

Key proposed changes include:

  • Disclosure obligations: Disclosure obligations in the LSA are proposed to be transferred to the BCCM.
  • Disclosure material: Disclosure material will no longer be required to state the names and addresses of the seller and buyer.
  • Disclosure material in option to purchase: Where a buyer is provided with disclosure material when entering into an option to purchase the seller will not be required to re-issue disclosure material when the option is exercised. However, where a nominee is the buyer under the contract entered into, upon

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