Tasmania - Vendor Disclosure

Tasmania is about to become the latest state to join the Vendor Disclosure regime for property sales. Goodbye Caveat Emptor.

Tim Tierney Lawyer with Baker Tierney & Wilson Huonville Tas has written a paper on Vendor Disclosure and Cooling Off as it will apply to Tasmania.

The latest update is Tasmanian parliament has introduced a bill which is now enacted. The bill is available from www.parliament.tas.gov.au

Extract:
Section 185. Vendors to provide relevant disclosure documents

(1) When offering land for sale, a vendor or any agent of the vendor must ensure that the relevant disclosure documents are available to a purchaser in one or more of the following ways:

(b) in an electronic format that enables the information to be printed and saved to an electronic file;

When proclaimed the Act will be available from www.thelaw.tas.gov.au

Tim's paper which is a precis of the new act and which he delivered to a seminar for the Law Society. You can download and read the Disclosure Paper or the short version

Through the Property Law Group of Law Council Tim wrote to the Tasmanian attorney general and suggested she have uniformity as a keystone of Vendor disclosure reform. She replied that Tasmania is different and the government would do what they thought best!!!!!