Section 206 disclosure statements to be phased out, replaced
The Property Law Bill 2023 was passed by legislative assembly on 25th October 2023. This bill modernises Queensland’ property legislation and implements a seller disclosure scheme in Queensland. Once enacted sellers of free-hold land, which would include lots in a body corporate, will be required to disclose relevant information to a buyer in a single document. A […]
Body Corporate Levies & Expired Current Levy Year Issued
Body corporate levies are set on a year to year basis, three months after the start of the new financial year. For reporting this creates issues. Sometimes a disclosure statement or records search will quote levies for a period that has expired. For instance, say the levies are quoted to 31/7/2012 and yet the date of […]
Does A Section 206 Disclosure Statement Expire?
If you’re selling a lot in a body corporate in Queensland then you will need to provide your agent(s) with section 206 disclosure statement. Some agents suggest that you get a disclosure statement as soon as you list your property, however it can be many months between listing your property and any actual contract for […]