45Obligations of seller

45 Obligations of seller (1) The seller must, before the buyer enters into the contract, give the buyer a scheme disclosure statement (a disclosure statement) in force under subsection (3) for the unit.

Unit Title Schemes Act 2009 27 (2) The seller must ensure a disclosure statement for the unit contains the following information: (a) an estimate of the amount of annual contributions reasonably expected to be payable to the body corporate for the unit; (b) the information prescribed by regulation about the engagement or proposed engagement of a body corporate manager or service contractor; (c) the information prescribed by regulation about the authorisation or proposed authorisation of a letting agent; (d) the information prescribed by regulation about any existing or proposed body corporate assets; (e) the existing and proposed scheme statements, management modules and by-laws of the scheme and higher schemes (whether existing or proposed to be formed or changed); (f) anything required to be included in the disclosure statement by the management modules; (g) the information prescribed by regulation about any proposed plan of subdivision or proposed plan of consolidation relating to the unit; (h) the method of adjudicating disputes arising from the disclosure statement as prescribed by regulation; (i) any other matter prescribed by regulation. (3) The disclosure statement is in force if: (a) it is signed by or for the seller; and (b) it is registered together with any document prescribed by (4) The seller must comply with subsections (1) and (2).

Unit Title Schemes Act 2009 28