JUNE 2009

IN THIS ISSUE

Please Select an Article to Read

• The Real Property and Conveyancing Legislation Amendment Act 2009
• Deposits paid by instalments
• Property Developers and Misleading Property Claims

 

The Real Property and Conveyancing Legislation Amendment Act 2009

Further to our April 2009 newsletter, the Real Property and Conveyancing Amendment Act 2009 (the Act) received assent on 13 May 2009.

The provisions in the Act relating to the duties of mortgagees is particularly relevant in the current market, with the increase in mortgagee sales.

The majority of the provisions in the Act commence on the date of assent, with the exception of:

• the introduction of the identification requirements to the Real Property Act 1900 in relation to mortgagees and witnesses; and
• the requirement of mortgagees exercising power of sale to take reasonable care to ensure that the land is sold for not less than market value,

which will commence on a date to be appointed by proclamation. We will notify you of this date once available.

 

Written by Vincent Tripodina, solicitor.