Jun

26

The Sustainability Declaration

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New Sustainable Housing Laws: The Sustainability Declaration

On the 12th of November 2009, the Queensland Government introduced new legislation requiring the seller of a residential property to complete a two-page, compulsory checklist known as a Sustainability Declaration.

The declaration, which comes into effect on the 1st of January 2010, was introduced to better inform buyers about the environmental and social sustainability features of a property. The Department of Infrastructure and Planning state that the declaration will focus on a property’s sustainability with regard to the four key areas of energy, water, access and safety.

Under the new legislation, the Sustainability Declaration is required to be conspicuously displayed at open inspections, and advertisements of your property must clearly state where Buyers can get a copy of the document. The declaration must also be available on demand to any prospective buyer. A failure to adhere to any of these requirements will result in a maximum penalty of $2,000.00 for a seller or $10,000.00 for a real estate agent.

Furthermore, if a buyer suffers a loss as a result of a false, misleading or negligently prepared declaration, the seller is required to compensate the buyer for any such loss or expense incurred.

The declaration is self-asses-sable and designed to be completed by a seller, and is required of all sellers who have their property for sale on and from the 1st of January 2010, irrespective of when it was first placed on the market.

To obtain a copy of the Sustainability Declaration go to:

http://www.dip.qld.gov.au/sustainable-housing/sustainability-declaration.html

For further information regarding the Sustainability Declaration, or of the impact of the new legislation upon the sale of your property, contact Byron Cannon, Solicitor/Director of  Ferguson Cannon on (07) 5443 6600 or at byron@fclawyers.com.au

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Category: Business & Corporate Services, Contract Law, Conveyancing, Fact Finders, General, Property Development

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