Recorded Webinar: Seller Disclosure Reforms and the New Property Law Act (Qld)

The requirements for mandatory disclosure by sellers under the new Property Law Act 2023 represents a fundamental change in practice and a significant departure from what was required or allowed under the old regime. While the news may be welcome for buyers, the changes have left many worried as to whether sellers will be able to comply with the new disclosure requirements given the lag in record keeping of local councils and other entities. This session examines the new seller disclosure requirements being introduced under the PLA 2023, as well as other key aspects of the reforms, including:

• What must be disclosed:
  • how far does disclosure go?
  • what level of detail/verification is required?
• The Regulation and approved disclosure statements
• Potential issues that may arise in practice
• Key clauses in the contracts to address issues arising from these changes (if available at the time of presenting); and
• The future role of agents in conveyancing – will we see a more restricted role with greater emphasis on lawyers?
• Spotlight on other key reforms under the Act, including easement covenant enforceability, changes to the limitation period for deeds, and instalment contracts