Pre-Contract and Pre-Settlement Disclosure Forms - now available
Pre-Contract and Pre-Settlement Disclosure Forms
As of 9th May 2023, the Unit Titles Amendment Act 2022 requires the use of new disclosure forms for the sale of existing units. The Ministry of Housing and Urban Development has prepared template forms for both the Pre-Contract Disclosure Statement and the Pre Settlement Disclosure Statement, they can be downloaded here. The forms will be of particular interest to owners in self-managed unit title developments.
Sellers should be careful with the completion of the form and if the seller is in any doubt, they should get legal advice before providing the form to the buyer.
BCCG has provided a podcast on the new Disclosure Regime under the Amendment Act covering both forms and the consequences of not completing them properly. The podcast is available to BCCG Members only and can be found on the BCCG Member Resources page (select the 4th podcast on the page).