Industry Update October 2022
October Industry Updates
7th October 2022
Email sent to mailing list and posted on social media.
Good morning, the agency licensee, administration and sales agents will benefit from reviewing the below important information. Please forward to the team you think may benefit from this update.
We are seeking your views on apublic exposure draft of the Property Law Bill 2022(the Bill).
The currentProperty Law Act 1974governs many aspects of Queensland’s property law, including:
- general rules affecting property
- the creation and disposition of interests in land
- co-ownership
- deeds
- covenants
- mortgages
- leases
- the rule against perpetuities
- old system land.
The Bill has been developed in line with the recommendations of the Commercial and Property Law Research Centre of the Queensland University of Technology (QUT) as set out in theirFinal report: Property Law Act 1974. The final report followed a broad-ranging, independent review of Queensland’s property laws.
In line with the recommendations in the QUT final report, the Bill will repeal the currentProperty Law Act 1974and replace it with a new Act. The Bill will modernise Queensland’s property law by redrafting provisions in contemporary language that reflects current commercial practice, and repeals outdated provisions.
Submissions on the draft Bill are invited from the public and stakeholders to inform policy options in settling the Bill.
To assist in considering the Bill, the accompanyingconsultation papernotes areas where the Bill differs from QUT’s recommendations and where policy positions have been presented in consultation with stakeholders to date which differ from the QUT recommendation reflected in the Bill. Submitters with views on these issues may wish to comment.
Seller disclosure scheme—flood history information
We recently consulted on theExposure draft of the Bill for implementing a statutory seller disclosure scheme in Queenslandand the associated forms, with consultation closing on 31 August 2022.
Subject to consideration of the results of consultation, it is expected that the provisions for the implementation of the seller disclosure scheme will be incorporated as part of the Property Law Bill 2022.
Consistent with QUT’s recommendations, the draft disclosure statement does not require flooding history information to be disclosed but rather warns the buyer to make their own enquiries.
Further consideration is being given to whether flooding history information should also be included in the seller disclosure statement.
Accordingly, the consultation paper also seeks the views of the public and interested stakeholders to inform this consideration.
Have your say
You are invited to provide a written submission in response to thedraft Property Law Billand further consultation on whether flood history information should be included in the seller disclosure scheme.
If you would like to provide a submission, please either:
- email your submission to: This email address is being protected from spambots. You need JavaScript enabled to view it., or
- post your submission to:
Property Law Act Review
Strategic Policy and Legal Services
Department of Justice and Attorney-General
GPO Box 149
BRISBANE QLD 4001
The consultation is now open and the closing date for written submissions is 5pm on 21 October 2022.
Your privacy
The Queensland Government is bound by the Information Privacy Act 2009. Find out more by reading our privacy statement. We may contact you for further information on the issues your raise in your submission. Information in your submission will be used to inform this consultation process. Your submission may also be published on our website. If you would like your submission—or any part of it—to be treated as confidential, please indicate this clearly. Please note however that all submissions may be subject to disclosure under the Right to Information Act 2009.
Contact
Please email the Property Law Act Review team on This email address is being protected from spambots. You need JavaScript enabled to view it.if you would like to find out more about this consultation.
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5th October 2022
Email sent to Mailing list and posts on Social Media
Friday 25th November 2022
Thank a Property Manager Day
One day special event (Brisbane). Register Thank a Property Manager Day
The special event includes morning tea and a working lunch.
Stacey Holt from Real Estate Excellence with great excitement will host the 10th Thank A Property Manager Day!