Australia: Changes to conveyancing legislation

On 1 September 2017 the Conveyancing (Sale of Land) Regulation 2017 (Regulation) will come into effect. The Regulation repeals and replaces the Conveyancing (Sale of Land) Regulation 2010, however the changes will not affect a contract for the sale of land, or an option to purchase residential property made before the 1 September 2017. Additionally, the Conveyancing (Sale of Land) Regulation 2010 will continue to apply to a contract for the sale of land and any option to purchase residential property entered into on or after 1 September 2010 and before 1 September 2017.

The Regulation serves to update the Conveyancing (Sale of Land) Regulation 2010, posing few substantive changes to regulation. References to legislation has been amended to reflect legislative changes in the past 7 years, such as a reference to Strata Schemes Management Act 1996 is now a reference to the Strata Schemes Management Act 2015.

The significant changes include:

• Under Schedule 1, Clause 2 diagrams of:
• 1. The location of any sewer lines on the land upstream of the point of connection to the authority's sewer main (including point of connection); and
  2. The location of the authority's sewerage infrastructure for the property downstream of the point of connection to the authority's sewer main (including the point of connection),
     
     are to be attached to a contract for the sale of land;
     
     
• Schedule 1 Clause 8, now provides that a copy of any amendment of the strata development contract must be attached to the contract (if applicable);
• Repeal of the swimming pool warning, instead inserting a warning for loose-fill asbestos that reads:

  WARNING—LOOSE-FILL ASBESTOS INSULATION
  
  Before purchasing land that includes any residential premises (within the meaning of Division 1A of Part 8 of the Home Building Act 1989) built before 1985, a purchaser is strongly advised to consider the possibility that the premises may contain loose-fill asbestos insulation (within the meaning of Division 1A of Part 8 of the Home Building Act 1989). In particular, a purchaser should: (a) search the Register required to be maintained under Division 1A of Part 8 of the Home Building Act 1989, and (b) ask the relevant local council whether it holds any records showing that the residential premises contain loose-fill asbestos insulation. For further information about loose-fill asbestos insulation (including areas in which residential premises have been identified as containing loose-fill asbestos insulation), contact NSW Fair Trading.

• Adverse Affections in Schedule 3 Part 3 to include:
  1. an order under section 121B of the Environmental Planning and Assessment Act 1979 to demolish, remove, repair or make structural alterations to a building that has not been fully complied with;
  2. Any of the following instruments under the Stock (Chemical Residues) Act 1975 (an Act repealed by the Biosecurity Act 2015) that are in force:
  3. 1. An order under section 5(1) (d) or (e)(ii) or 11(1) or (2),
     2. A requirement under section 7(1) or 8(1),
     3. An undertaking under section 7A(1),
     4. A restriction or prohibition under section 12(1);
  4. An emergency order under the Biosecurity Act 2015 that has been served on the owner or occupier of the land;
  5. A control order under the Biosecurity Act 2015 that has been served on the owner or occupier of the land;
  6. An individual biosecurity direction (within the meaning of the Biosecurity Act 2015) that: (a) prohibits, regulates or controls the doing of anything, or (b) requires something to be done;
  7. A biosecurity undertaking (within the meaning of the Biosecurity Act 2015).

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.