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Vendor Disclosure Updates

18 August 2021

Article by Jess

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There have been some important changes to Legislation by State Government which came into effect Friday 19th March 2021.

Amongst other changes, the Planning, Development and Infrastructure Act 2016 (‘the PDI Act’) introduced the Planning and Design Code, a single, online source document replacing all 72 current Development Plans.

As of March 19, both Form 1 & Form 2 Vendor Disclosure statements will need to also include the following information:

  • Whether the Vendor has been advised of the presence of Aluminium Composite Panel Cladding (ACP) on the exterior of the building
  • Updated information regarding zone, subzone and overlay which the land is located, in line with the Updated Planning Code.

For forms served on or after 19 March 2021, if the updated information is not provided, they will be defective – which could allow the purchaser to either cool off or sue the vendor for damages.

You can rest assured that Smart Conveyancing & Form One have kept up to date with all of the changes to ensure all Form 1 & 2 documents prepared by us include all of the required information.

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Articles by Jess