A Victorian Section 32
So named as it is derived from Section 32 of the Sale of Land Act in Victoria. This act requires a vendor/seller to provide this legal document to potential purchasers of that property. It may also be referred to as a Vendor Statement.
It is prepared by the vendor’s legal or conveyancing representative and given to the real estate agent to hand to prospective clients. This legislation requires a seller to provide specific information to a buyer about the property in question, before they sign the Contract of Sale. If they don’t then the buyer may have the right to pull out of the Contract.
I could write on the in’s and out’s of Section 32 for hours, as it’s a legal document and consequently it is important that the vendor understand there are legal ramifications if they do not disclose all of the necessary information.
The value of a legal representative reviewing your document can’t be underestimated.
A review can be equally be about what hasn’t been included than simply reviewing the content alone.
Wouldn’t you want to know if:-
- You were given the right Section 32?
- The vendor had the right to sell the property?
- Have the renovations or extensions been completed by the owner-builder?
- If there any unauthorised building works?
- Can a place of business/entertainment or car panel shop open up next door?
- Can I use the lane access to my garage?
A Section 32 must be provided before sale and the signing of the contract. It documents information about the property’s title including:
- Vendors details
- Title details
- Statutory warnings to the purchase?
- A written inspection report (which lists any defects) if the vendor is the owner-builder
- If there is access to the property by road • Particulars of the owner-builders warranty insurance
- Mortgages or “charges” over the land, debts charged against the land
- Covenants, easements and any other restrictions on title whether shown on the title or not?
- Planning information, particularly where zoning restricts land use
- Outgoings payable by the owner of the property
- Disclosure of any notices or orders issued by the authorities, regarding fencing, road-widening, sewerage etc…
- Information on services connected to the property
BFG offer a complimentary legal review of your Section 32 when conveyancing the sale of your property . It’s another step in our mission of making your success our business.
