Starting 1 August 2025, Queensland will implement the Property Law Act 2023, replacing the Property Law Act 1974.
Key Changes Include:
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Mandatory Seller Disclosure: Sellers must provide a detailed disclosure statement and prescribed certificates to prospective buyers before signing a sale contract. This ensures buyers are fully informed about the property’s condition and any encumbrances.
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Modernised Language and Structure: The new Act updates and clarifies legal language, making property laws more accessible and easier to understand.
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Lease Reforms: All covenants, except those explicitly personal, are enforceable after a lease assignment or sale of the reversion. Tenants assigning a lease are entitled to a release on subsequent assignments.
These reforms aim to enhance transparency, protect buyers, and streamline property transactions across Queensland. It’s essential for all parties involved in property dealings to familiarise themselves with these changes to ensure compliance and informed decision-making.
The new mandatory seller disclosure requirements make it more important than ever to have an experienced conveyancer on your side. OneStop Legal assists buyers and sellers under the new Property Law Act 2023 across the Gold Coast including Southport, Nerang, Helensvale, Oxenford, and all Gold Coast suburbs.
Read more via Real Estate Institute of Queensland (REIQ) and Crown Law Queensland Government.
Stay informed and compliant with these important updates!
📞 Contact OneStop Legal for expert guidance.
