New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
PROPERTY AND STOCK AGENTS ACT 2002 - SECT 64
Contracts for sale of residential property
(1) A real estate agent may do any of the following-- (a) fill up a proposed
contract for the sale of residential property, by inserting details of the
purchaser's name, address and description, the name and address of the
Australian legal practitioner acting for the purchaser, the purchase price and
the date,
(b) insert in or delete from a contract for the sale of
residential property any description of any furnishings or chattels to be
included in the sale of the property,
(c) participate in the exchange or
making of contracts for the sale of residential property.
(2) If a
prospective party to a proposed contract for the sale of residential property
for whom a real estate agent acts in relation to the exchange or making of the
contract notifies the real estate agent, or it is apparent from the proposed
contract, that an Australian legal practitioner is or will be acting for the
party, the real estate agent may not participate in the exchange or making of
the contract unless expressly authorised to do so by the party or the
Australian legal practitioner. A contract is not invalid merely because of the
failure of a real estate agent to comply with this subsection.
(3) A
real estate agent who exercises any function pursuant to this section on
behalf of any person who is a party or a prospective party to any contract or
proposed contract is liable to compensate that person for any loss, damage or
expense suffered or incurred by that person as a result of any negligent act
or omission, or any unauthorised action, of the real estate agent in the
exercise of that function.
(4) A real estate agent may not charge a fee for
anything authorised to be done under this section.
(5) This section does not
affect the existence or nature of any other functions or responsibilities of
licensees that exist or may exist apart from this section.
(6) In this
section--
"Australian legal practitioner" includes a licensee under the
Conveyancers Licensing Act 2003 .
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback