Division 2A—Due diligence checklist 68 33 Definitions 68 33A What is a due diligence checklist? 68 33B Due diligence checklist to be made available 68 33C Due diligence checklist to be published on Internet 69 Division 3—Insurance 70 34 Power of purchaser to rescind contract where house destroyed 70 35 Insurance held by vendor to enure for benefit of purchaser 71 36 Damage to land 73 Division 4—Public auctions 73 37 This Division applies to publicly advertised auctions 73 38 Dummy bidding prohibited 73 39 Offences by auctioneers 74 40 Offence to procure dummy bid 75 41 Permissible vendor bids 75 42 Offence to falsely acknowledge bid 76 43 Conditions of auctions to be made available before auction starts 76 44 Right to compensation if Division breached 76 45 Contrary conditions are void 77 46 Last vendor bids must be identified if property passed in 77 47 Disruption of auction prohibited 79 48 Regulations 80 82 48A Application of Australian Consumer Law and Fair Trading Act 2012 82 48B Infringement notices 83 85 49 Application of amendment to section 32—Agriculture Legislation (Amendments and Repeals) Act 2002 85 50 Transitional provision—Purchaser may deduct growth areas infrastructure contribution from purchase price 85 51 Amendment to section 9AA—Consumer Affairs Legislation Amendment (Reform) Act 2010 87 52 Substitution of Division 2 of Part II—Sale of Land Amendment Act 2014 87 __________________
S. 2(1) def. of legal practitioner inserted by No. 18/2005 s. 18(Sch. 1 item 94.1). legal practitioner means an Australian legal practitioner within the meaning of the Legal Profession Act 2004; S. 2(1) def. of mortgage amended by Nos 7052 s. 2(a), 7272 s. 2(1)(a). mortgage includes any charge or lien on any land for securing money or money's worth but does not include any such charge or lien which attaches to any land by the operation of any enactment to secure an amount due for rates taxes or charges payable to any statutory body or any such charge or lien in favour of a service company to secure the performance by the proprietor of a stratum estate of his obligations to the service company under a service agreement or any floating charge on the whole or any part of the undertaking or property of a corporation and the verb to mortgage shall have a corresponding interpretation; mortgage money means money or money's worth secured by a mortgage; mortgagor includes any person from time to time deriving title under the original mortgagor or entitled to redeem a mortgage according to his estate interest or right in the mortgaged property; mortgagee includes any person at any time deriving title under the original mortgagee; Part means Part of this Act; s. 2 S. 2(1) def. of police officer inserted by No. 37/2014 s. 10(Sch. item 148.1). police officer has the same meaning as in the Victoria Police Act 2013; prescribed means prescribed by or under this Act;
S. 7 amended by Nos 7052 s. 2(f), 7272 s. 3, 9554 s. 2(2)(Sch. 2 item 288), repealed by No. 6/2008 s. 30. * * * * * 8 Apportionment of mortgage moneys where land subdivided s. 8 S. 8(1) amended by No. 53/1988 s. 45(Sch. 2 item 40). (1) Where any land which is subject to a mortgage is or has been subdivided into separate lots or parcels the mortgagor may require the mortgagee to apportion the mortgage moneys to the respective lots or parcels of land which are subject to the mortgage. S. 8(2) amended by No. 53/1988 s. 45(Sch. 2 items 40, 41). (2) If the mortgagee fails to apportion the mortgage moneys to the respective lots or parcels or if the mortgagor is dissatisfied with the proposed apportionment the mortgagor may apply to an arbitrator for a determination as to the amount to be apportioned to each such lot or parcel. S. 8(3) amended by No. 53/1988 s. 45(Sch. 2 item 40). (3) Where the mortgage moneys have been apportioned to the respective lots or parcels pursuant to this section the mortgagee shall on tender of— S. 8(3)(a) amended by No. 53/1988 s. 45(Sch. 2 item 41). (a) the amount apportioned to any particular lot or parcel; or S. 8(3)(b) amended by No. 53/1988 s. 45(Sch. 2 item 41). (b) a registrable instrument of mortgage to secure payment of all moneys apportioned to that lot or parcel— s. 8A
of that part and no other part of the land in the plan. S. 9 amended by Nos 7052 s. 2(g)(i)(ii), 8661 s. 40(a)(b), 9128 s. 8(2)(a)–(c), 10216 s. 4(a)–(c), repealed by No. 53/1988 s. 45(Sch. 2 item 43). * * * * * S. 9AA inserted by No. 10216 s. 5. 9AA of land prior to approval of plan s. 9AA S. 9AA(1) amended by Nos 53/1988 s. 45(Sch. 2 items 44, 46), 48/1991 s. 55(1)(a)(b). (1) A person shall not sell a lot in a plan of subdivision (whether certified or not) to anyone except a statutory body or authority if the plan has not been registered by the Registrar, unless— S. 9AA(1)(a) amended by No. 53/1988 s. 45(Sch. 2 item 45). (a) the contract for the sale of that lot provides that the deposit moneys payable by the purchaser are to be paid— S. 9AA(1)(a)(i) amended by Nos 53/1988 s. 45(Sch. 2 item 45), 35/1996 s. 453(Sch. 1 item 73.2(a)(i)), 75/2006 s. 192(Sch. 2 item 5.2), 63/2010 s. 57(1)(a)(i). (i) to a legal practitioner, conveyancer or licensed estate agent acting for the vendor to be held by the legal practitioner, conveyancer or licensed estate agent on trust for the purchaser until the registration of the plan of subdivision; and
S. 9AA(2) amended by Nos 53/1988 s. 45(Sch. 2 items 46, 47), 35/1996 s. 453(Sch. 1 item 73.2(b)), 11/2001 s. 3(Sch. item 67.2(b)), 75/2006 s. 192(Sch. 2 item 5.2), substituted by No. 63/2010 s. 57(3). (2) The deposit moneys paid by the purchaser before the registration of the plan under a prescribed contract of sale of a lot must be paid to the legal practitioner, conveyancer or licensed estate agent acting for the vendor. S. 9AA(3) amended by No. 35/1996 s. 453(Sch. 1 item 73.2(c)), repealed by No. 63/2010 s. 57(4). * * * * * s. 9AA S. 9AA(4) amended by Nos 35/1996 s. 453(Sch. 1 item 73.2(d)), 11/2001 s. 3(Sch. item 67.2(b)), repealed by No. 63/2010 s. 57(4). * * * * * S. 9AA(5) repealed by No. 53/1988 s. 45(Sch. 2 item 48), new s. 9AA(5) inserted by No. 48/1991 s. 55(2). (5) A person may sell land under a prescribed contract despite anything in section 8A.
S. 9A inserted by No. 9128 s. 8(1), amended by Nos 9427 s. 6(1)(Sch. 5 item 163), 9720 s. 3(2)(Sch. item 90), 44/1987 s. 36(2), repealed by No. 53/1988 s. 45(Sch. 2 item 64). * * * * * S. 10 amended by Nos 7228 s. 7(Sch. 5 Pt 3(a)(b)), 8661 s. 40(c)–(e), 121/1986 s. 112, substituted by No. 53/1988 s. 45(Sch. 2 item 64) (as amended by No. 47/1989 s. 19(ze)(i)). 10 Amendment affecting pre-sold lots s. 10 (1) If any amendment to a plan of subdivision is made after a prescribed contract of sale of a lot is entered into which restricts or limits the use of the lot the purchaser may avoid the sale at any time before the plan of subdivision is registered unless the amendment results from any recommendation of a public authority or government department. (2) A contract of sale may provide that subsection (1) does not apply in respect of the final location of an easement shown on a certified plan. S. 11 amended by No. 8661 s. 40(c)(e)(f), substituted by Nos 53/1988 s. 45(Sch. 2 item 64) (as amended by No. 47/1989 s. 19(ze)(ii)), 69/2006 s. 218. 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.
S. 14A inserted by No. 7272 s. 4, amended by No. 7898 s. 3(b), substituted by No. 8661 s. 40(g), amended by No. 10216 s. 6(2), repealed by No. 53/1988 s. 45(Sch. 2 item 65). * * * * * S. 14B inserted by No. 10216 s. 6(1). 14B Further powers of arbitrator with respect to subdivisional land s. 14B (1) If any difference or dispute arises between the vendor and the purchaser with respect to— S. 14B(1)(a) amended by No. 48/1991 s. 56(2)(a). (a) the non-compliance by either party with any of the requirements of sections 9AA to 9AH; or S. 14B(1)(b) amended by No. 48/1991 s. 56(2)(b). (b) a purported rescission by the purchaser of the contract of sale pursuant to section 9AC, 9AE or 9AH— either party may refer the difference or dispute to an arbitrator for determination. (2) Without affecting the generality of section 21, the arbitrator may make an order under this section requiring the vendor to pay compensation to the purchaser in respect of any loss suffered by the purchaser arising out of the contract. 15 Notices (1) A notice in writing required or authorized to be given by this Act shall be sufficiently served upon any person— (a) if it is served personally or left at his last known place of abode in ; or
the vendor in his own right or as the vendor directs. (2) Subsection (1) shall only operate— (a) where the contract is not subject to any condition enuring for the benefit of the purchaser; and (b) where the purchaser has accepted title or may be deemed to have accepted title. S. 27(3) amended by No. 42/1989 s. 4(b). (3) An authorization in writing shall not be effective unless and until the vendor has given the purchaser a notice in writing setting out— S. 27(3)(a) substituted by No. 42/1989 s. 4(b). (a) if there is a mortgage over the land which is the subject of the transaction, the particulars specified in Schedule 1; and S. 27(3)(b) repealed by No. 42/1989 s. 4(b). * * * * * S. 27(3)(c) amended by No. 42/1989 s. 4(c). (c) particulars of any caveat lodged under the Transfer of Land Act 1958 in respect of the land which is the subject of the transaction— and the purchaser has given notice under subsection (4) that he is satisfied with those particulars. (4) Where the purchaser is satisfied— (a) that the particulars provided under paragraphs (a) and (c) of subsection (3) are accurate; and S. 27(4)(b) amended by No. 48/1991 s. 56(3). (b) that the particulars provided under paragraph (a) of subsection (3) indicate that the purchase price is sufficient to discharge all mortgages over the property— s. 27 he shall give the vendor notice in writing to that effect within 28 days of receiving the particulars.
S. 47 inserted by No. 41/2003 s. 3. 47 Disruption of auction prohibited s. 47 (1) This section applies to— (a) a person intending to make a bid on his or her own behalf, or on behalf of another person, at a public auction of land; (b) a person acting on behalf of a person intending to make a bid at a public auction of land. (2) The person must not knowingly prevent or hinder any other person whom he or she knows or believes is an actual or potential rival bidder from attending, participating in, or bidding at, the auction. 60 penalty units. (3) The person must not harass any other person whom he or she knows or believes is an actual or potential rival bidder with the intention of interfering with that other person's attendance at, participation in, or bidding at, the auction. 60 penalty units. (4) The person must not induce, or attempt to induce, another person whom he or she knows or believes is an actual or potential rival bidder to not attend the auction, or to not make a bid at the auction. 60 penalty units. (5) The person must not do any thing with the intention of preventing, causing a major disruption to, or causing the cancellation of, the auction. 60 penalty units. (6) Subsection (5) is not intended to preclude a person at the auction from asking, in good faith, a reasonable number of questions about the land, the contract of sale and the conduct of the auction.
S. 48 inserted by No. 41/2003 s. 3. 48 Regulations s. 48 (1) The Governor in Council may make regulations for or with respect to— (a) regulating the conduct of public auctions of land; (b) prescribing standard rules for the conduct of public auctions of land; (c) regulating signs and documents relating to public auctions of land; (d) requiring the provision of specified information to potential purchasers of land that is to be sold at public auction; (e) prescribing any other matter or thing authorised or required to be prescribed or necessary or convenient to be prescribed for the purposes of this Division. (2) The regulations— (a) may be of general, or of specially limited, application; (b) may differ according to differences in time, place or circumstance; (c) may require a matter affected by the regulations to be— s. 48 (i) in accordance with a specified standard or specified requirement; or (ii) approved by, or to the satisfaction of, a specified person or a specified class of person; or (iii) as specified in both subparagraphs (i) and (ii);
Assent Date: 19.5.81 Commencement Date: 19.5.81: subject to s. 2(2) : All of Act in operation of Land (Deposits) Act 1981, No. 9688/1981 Assent Date: 5.1.82 Commencement Date: 5.1.82 : All of Act in operation Building Control Act 1981, No. 9720/1981 Assent Date: 12.1.82 Commencement Date: S. 3(2)(Sch. item 90) on 2.8.82: Government Gazette 28.4.82 p. 1174 : This information relates only to the provision/s amending the of Land Act 1962 of Land (Amendment) Act 1982, No. 9858/1982 Assent Date: 5.1.83 Commencement Date: 2.5.83: Government Gazette 8.4.83 p.753 : All of Act in operation Statute Law Revision Act 1984, No. 10087/1984 Assent Date: 22.5.84 Commencement Date: 22.5.84: s. 3(2) : All of Act in operation of Land (Allotments) Act 1985, No. 10216/1985 Assent Date: 3.12.85 Commencement Date: 1.1.86: Government Gazette 18.12.85 p. 4697 : All of Act in operation Supreme Court Act 1986, No. 110/1986 Assent Date: 16.12.86 Commencement Date: 1.1.87: s. 2 : All of Act in operation Land Acquisition and Compensation Act 1986, No. 121/1986 Assent Date: 23.12.86 Commencement Date: 29.11.87: Government Gazette 25.11.87 p. 3224 : All of Act in operation Endnotes House Contracts Guarantee Act 1987, No. 44/1987 Assent Date: 19.5.87 Commencement Date: S. 36 on 1.5.88: Government Gazette 30.3.88 p. 752 : This information relates only to the provision/s amending the of Land Act 1962 Planning and Environment Act 1987, No. 45/1987