With the start date for Queensland’s new Property Law Act fast approaching, this quickfire Q&A breaks down the key facts every property seller (and advisor) needs to know.
Q: When does the new Act commence?
A: The new Property Law Act will commence on 1 August 2025.
Q: What contracts does the new Seller Disclosure Regime apply to?
A: The regime applies broadly, including to:
- Residential and commercial sale contracts.
- Auction and private treaty sales.
- Options to purchase.
- Sales following the exercise of an option, provided disclosure was given before the option deed and the parties remain the same.
Q: What are the exceptions?
A: Limited exceptions apply, including:
Transactions between related or governmental parties:
- Related parties who agree disclosure isn’t needed.
- Transactions where the buyer is a Local, State or Federal government, statutory body or listed corporation.
- Local government sales to recover unpaid rates.
Situational exemptions:
- Co-owner transfers.
- Off-the-plan sales.
- Boundary adjustments.
- Court-ordered transfers under the Family Law Act.
- Estates and compulsory acquisitions.
High-value sales:
- Sales over $10 million (including GST) where the buyer agrees disclosure isn’t required.
Q: I’m going to market my property in July, should I give the Seller Disclosure to buyers then?
A: No. Disclosure must use the official approved form, which only becomes valid from 1 August 2025. Giving it early—even with the best of intentions—won’t count as valid disclosure.
Q: What happens if disclosure isn’t made?
A: If a disclosure statement or required certificate isn’t provided at all, the buyer will have a right to terminate the contract.
If the disclosure statement or certificate is inaccurate or incomplete in relation to a material matter, and:
- The buyer was unaware of the true facts when signing the contract, and
- Would not have signed if they’d known—then the buyer may also terminate the contract.
Q: Sounds complicated, can you help me?
A: Absolutely. Join our live-streamed Business Essentials Seminar on Friday, 23 May to get up to speed. Click here to register or contact our Property + Business Transactions team for tailored advice.
For further information, contact Amanda Tolson.
The assistance of Carly Brailak, Special Counsel, in researching this article is gratefully acknowledged.
New Rules for Trusts in Queensland: Are you ready?