sec.34Automatic ending of sale agreement

### sec.34 Automatic ending of sale agreement This section applies in relation to a site agreement if— in conjunction with the site agreement, a prospective home owner and the seller of a manufactured home positioned on a site in the residential park enter into an agreement (the sale agreement ) for the sale of the manufactured home to the home owner; and the home owner terminates the site agreement under section 33 . The sale agreement is taken to be at an end on the day the termination of the site agreement is effective. Also, on the ending of the sale agreement under subsection (2) , ownership of the home reverts to the seller. Subsections (2) and (3) apply even though— the home owner has affirmed the sale agreement; and the sale agreement has been fully executed. Subsection (4B) applies if the home owner has granted a person (a financier ) a security interest in the home and the financier has been given notice of the termination of the site agreement under section 33 (2) or otherwise knows about the termination. The financier must, within 7 days after the ending of the sale agreement under subsection (2) , give the seller a notice stating the amount owing under the security interest. The seller must, within the refund period, pay the refundable amount as follows— first, if all or part of the refundable amount is owing to a financier under a security interest in the home—in payment of the amount owing under the security interest; second, in payment of any balance to the home owner. Maximum penalty—100 penalty units. For subsection (5) (a) , the amount owing under the security interest is the amount stated in a notice given by the financier to the seller. A term in the sale agreement is void to the extent it purports to exclude, change or restrict the operation of subsection (5) . In this section— refundable amount means the total of the following— the amount paid to the seller, or at the seller’s direction, under the sale agreement; if the seller is the park owner and the park owner did not give the home owner the disclosure documents for the site as required under section 29 —the amount of any expenses reasonably incurred by the home owner arising out of or incidental to the sale agreement. refund period means the period— if subsection (5) (a) applies, starting— when the financier gives the seller the notice as required under subsection (4B) ; or 7 days after the ending of the sale agreement under subsection (2) ; and ending at the end of the day that is 14 days after the ending of the sale agreement under subsection (2) . s 34 amd 2005 No. 14 s 2 sch ; 2010 No. 44 s 118 ; 2017 No. 42 s 23 ; 2024 No. 28 s 33A (sec.34-ssec.1) This section applies in relation to a site agreement if— in conjunction with the site agreement, a prospective home owner and the seller of a manufactured home positioned on a site in the residential park enter into an agreement (the sale agreement ) for the sale of the manufactured home to the home owner; and the home owner terminates the site agreement under section 33 . (sec.34-ssec.2) The sale agreement is taken to be at an end on the day the termination of the site agreement is effective. (sec.34-ssec.3) Also, on the ending of the sale agreement under subsection (2) , ownership of the home reverts to the seller. (sec.34-ssec.4) Subsections (2) and (3) apply even though— the home owner has affirmed the sale agreement; and the sale agreement has been fully executed. (sec.34-ssec.4A) Subsection (4B) applies if the home owner has granted a person (a financier ) a security interest in the home and the financier has been given notice of the termination of the site agreement under section 33 (2) or otherwise knows about the termination. (sec.34-ssec.4B) The financier must, within 7 days after the ending of the sale agreement under subsection (2) , give the seller a notice stating the amount owing under the security interest. (sec.34-ssec.5) The seller must, within the refund period, pay the refundable amount as follows— first, if all or part of the refundable amount is owing to a financier under a security interest in the home—in payment of the amount owing under the security interest; second, in payment of any balance to the home owner. Maximum penalty—100 penalty units. (sec.34-ssec.5A) For subsection (5) (a) , the amount owing under the security interest is the amount stated in a notice given by the financier to the seller. (sec.34-ssec.6) A term in the sale agreement is void to the extent it purports to exclude, change or restrict the operation of subsection (5) . (sec.34-ssec.7) In this section— refundable amount means the total of the following— the amount paid to the seller, or at the seller’s direction, under the sale agreement; if the seller is the park owner and the park owner did not give the home owner the disclosure documents for the site as required under section 29 —the amount of any expenses reasonably incurred by the home owner arising out of or incidental to the sale agreement. refund period means the period— if subsection (5) (a) applies, starting— when the financier gives the seller the notice as required under subsection (4B) ; or 7 days after the ending of the sale agreement under subsection (2) ; and ending at the end of the day that is 14 days after the ending of the sale agreement under subsection (2) . - (a) in conjunction with the site agreement, a prospective home owner and the seller of a manufactured home positioned on a site in the residential park enter into an agreement (the sale agreement ) for the sale of the manufactured home to the home owner; and - (b) the home owner terminates the site agreement under section 33 . - (a) the home owner has affirmed the sale agreement; and - (b) the sale agreement has been fully executed. - (a) first, if all or part of the refundable amount is owing to a financier under a security interest in the home—in payment of the amount owing under the security interest; - (b) second, in payment of any balance to the home owner. - (a) the amount paid to the seller, or at the seller’s direction, under the sale agreement; - (b) if the seller is the park owner and the park owner did not give the home owner the disclosure documents for the site as required under section 29 —the amount of any expenses reasonably incurred by the home owner arising out of or incidental to the sale agreement. - (a) if subsection (5) (a) applies, starting— (i) when the financier gives the seller the notice as required under subsection (4B) ; or (ii) 7 days after the ending of the sale agreement under subsection (2) ; and - (i) when the financier gives the seller the notice as required under subsection (4B) ; or - (ii) 7 days after the ending of the sale agreement under subsection (2) ; and - (b) ending at the end of the day that is 14 days after the ending of the sale agreement under subsection (2) . - (i) when the financier gives the seller the notice as required under subsection (4B) ; or - (ii) 7 days after the ending of the sale agreement under subsection (2) ; and