Queensland Consolidated Acts

MANUFACTURED HOMES (RESIDENTIAL PARKS) ACT 2003 - SECT 62L

62L Requirement to agree resale value or appoint registered valuer—requirements after 9 months

(1) This section applies if, within 9 months after the start of the buyback period—

(a) the park owner has not entered into a buyback agreement for the eligible home; and

(b) the eligible home has not otherwise been sold to another person.

(2) The parties must, within 9 months and 14 days after the start of the buyback period, agree in writing on the resale value of the eligible home.

(3) However, if the parties can not agree on the resale value of the eligible home within the period mentioned in subsection (2) , the parties must, within a further 7 days, jointly appoint a registered valuer to value the resale value of the eligible home.

(4) Subsection (3) applies subject to section 62M .