Victorian Current Acts

SALE OF LAND ACT 1962 - SECT 29T

    (1)     If a notice in writing has been served on a purchaser by a vendor under section 29Q and the purchaser, without lawful excuse, fails to comply with the notice—

        (a)     the purchaser is deemed to have breached a condition of the contract and the vendor is entitled to all civil remedies for that breach; and

        (b)     the purchaser is guilty of an offence and liable to a penalty of not more than 60 penalty units, in the case of a natural person or 300 penalty units, in the case of a body corporate.

    (2)     In this section a lawful excuse includes where the purchaser disputes in good faith the terms of the mortgage.

S. 29U inserted by No. 6/2008 s. 33.