sec.86Consequences before transfer if copy of application or order not given

sec.86 Consequences before transfer if copy of application or order not given

This section applies if— a person is selling land affected by an application or order; and the person is given a copy of the application, or the order is made, before the person enters into a contract of sale for the land; and the person does not give a copy of the application or order to the buyer before the buyer enters into the contract of sale. The buyer may terminate the contract at any time before the contract settles by giving a signed, dated notice of termination to the seller or the seller’s agent. The notice of termination must state that the contract is terminated under this section. If the contract is terminated, the seller must, within 14 days after the termination, refund any deposit paid under the contract to the buyer. Maximum penalty—200 penalty units. If the seller, acting under subsection (4) , instructs a person who holds the deposit paid under the contract to refund the deposit to the buyer, the person must immediately refund the deposit to the buyer. Maximum penalty—200 penalty units. If the contract is terminated, the seller and the person who is acting for the seller and prepared the contract are liable to the buyer for the reasonable legal and other expenses incurred by the buyer in relation to the contract after the buyer signed the contract. If more than 1 person is liable under subsection (6) , the liability of the persons is joint and several. An amount payable to the buyer under this section is recoverable as a debt. (sec.86-ssec.1) This section applies if— a person is selling land affected by an application or order; and the person is given a copy of the application, or the order is made, before the person enters into a contract of sale for the land; and the person does not give a copy of the application or order to the buyer before the buyer enters into the contract of sale. (sec.86-ssec.2) The buyer may terminate the contract at any time before the contract settles by giving a signed, dated notice of termination to the seller or the seller’s agent. (sec.86-ssec.3) The notice of termination must state that the contract is terminated under this section. (sec.86-ssec.4) If the contract is terminated, the seller must, within 14 days after the termination, refund any deposit paid under the contract to the buyer. Maximum penalty—200 penalty units. (sec.86-ssec.5) If the seller, acting under subsection (4) , instructs a person who holds the deposit paid under the contract to refund the deposit to the buyer, the person must immediately refund the deposit to the buyer. Maximum penalty—200 penalty units. (sec.86-ssec.6) If the contract is terminated, the seller and the person who is acting for the seller and prepared the contract are liable to the buyer for the reasonable legal and other expenses incurred by the buyer in relation to the contract after the buyer signed the contract. (sec.86-ssec.7) If more than 1 person is liable under subsection (6) , the liability of the persons is joint and several. (sec.86-ssec.8) An amount payable to the buyer under this section is recoverable as a debt.