NEW PROPERTY LAW ACT FOR QUEENSLAND
The Property Law Act 2023 has been proclaimed and will commence on 1 August 2025.
It is the most comprehensive set of changes to Queensland’s property laws in around 50 years since the Property Law Act 1974.
Modernisation
The new Property Law Act modernises the 1974 Property Law Act by:
- Simplifying the language;
- Removing obsolete sections;
- Clarifying sections that have caused confusion amongst practitioners.
Major reform
The Act introduces a new statutory seller disclosure scheme for Queensland.
Under the scheme a seller must give a seller disclosure statement in the approved form and prescribed certificates to a buyer before entering into a contract of sale.
Subject to some exceptions which are set out in the new Act, seller disclosure is compulsory and the seller and buyer cannot ‘contract out’ of the requirements.
Furthermore, if there is non-compliance with the obligations for the seller disclosure notice (either it is not completed or is completed incorrectly), a buyer can use that non-compliance to get out of the contract without penalty. This can have potentially serious consequences for a seller, particularly if they have ongoing commitments (such as the purchase of another property) reliant upon the sale.
