sec.107Original owner of lot in community titles scheme must give statement describing power of attorney

### sec.107 Original owner of lot in community titles scheme must give statement describing power of attorney This section applies in relation to a contract for the sale of a lot included in a community titles scheme if— the seller is an original owner for the scheme; and the buyer gives the seller a power of attorney to act for the buyer. The power of attorney may be exercised only if, before the power is given, the seller gives the buyer a statement that includes a detailed description of the circumstances in which the power may be exercised. The power of attorney may be exercised only in ways, and only for purposes, disclosed in the statement. The power of attorney expires 1 year after it is given, unless it expires earlier other than under this subsection. In this section— original owner , for a community titles scheme, means an original owner for the scheme under the Body Corporate and Community Management Act 1997 , section 13 . (sec.107-ssec.1) This section applies in relation to a contract for the sale of a lot included in a community titles scheme if— the seller is an original owner for the scheme; and the buyer gives the seller a power of attorney to act for the buyer. (sec.107-ssec.2) The power of attorney may be exercised only if, before the power is given, the seller gives the buyer a statement that includes a detailed description of the circumstances in which the power may be exercised. (sec.107-ssec.3) The power of attorney may be exercised only in ways, and only for purposes, disclosed in the statement. (sec.107-ssec.4) The power of attorney expires 1 year after it is given, unless it expires earlier other than under this subsection. (sec.107-ssec.5) In this section— original owner , for a community titles scheme, means an original owner for the scheme under the Body Corporate and Community Management Act 1997 , section 13 . - (a) the seller is an original owner for the scheme; and - (b) the buyer gives the seller a power of attorney to act for the buyer.