In brief - Gold Coast City Council local law implements new disclosure requirements
The Gold Coast City Council local law Subordinate Local Law No. 17.1 (Works in Non-Coastal Waterway Areas) 2013 commenced on 5 July 2013.
The new local law deals with property on which a revetment wall, training wall, jetty, or pontoon (identified in the local law as "specified prescribed works") is completely or partially situated. This extends to waterfront property connected to the specified prescribed works.
Non-disclosure may give buyers termination rights
A seller of an affected lot must now include certain disclosure about the specified prescribed works in a contract for the sale of the lot. If the disclosure is not given, a buyer may have termination rights.
Property title unaffected by new law
There is currently no requirement for the title of an affected lot to be updated to reflect whether or not the new local law applies.
Are you buying or selling property affected by the new local law?
if you are selling property, we can offer advice on the correct disclosures required to be given in relation to specified prescribed works.
We can also advise property buyers of the potential termination rights that may arise under the disclosure requirements introduced by the new local law.
This article has been published by Colin Biggers & Paisley for information and education purposes only and is a general summary of the topic(s) presented. This article is not specific legal or financial advice. Please seek your own legal or financial advice for any questions you may have. All information contained in this article is subject to change. Colin Biggers & Paisley cannot be held responsible for any liability whatsoever, or for any loss howsoever arising from any reliance upon the contents of this article.