section 32 valid

[evisional]

Does any ne know how long the section 32 valid. I have got a section 32 of more than 6 months old . Is it still good?

 

[Big Will]

Would depend on if anything has changed.

A S32 could be only valid for a day if VIC Roads decides that a major road would be built the next day.

If nothing has changed then yes it is still valid.

 

[Kate Ashmor]

Some certificates will expire after a certain period. The Council certificate is generally valid for 90 days, and an Owners Corporation certificate can quickly become outdated if payments are made quarterly. A title search is generally only acceptable for 120 days.

A prospective purchaser would be entitled to require new certificates, as the obligation is on the vendor to disclose accurate and complete information about the property. If the vendor doesn't, they risk the purchaser walking away from the contract at any time prior to settlement - as is the purchaser's right according to the Sale of Land Act.

 

[evisional]

Thanks a lot!

 

[evisional]

Hi Kate & other

I have read the sect 32 for an intended purchase but could not find the Transfer of Land document. Is this document is always accompanying with the title? If yes, I guess it is missing.

Also, the property is the vendor's IP, Is Land Tax Clearance required for Sect 32? Is seems that I got a dodgy and outdated Sect 32.

 

[Kate Ashmor]

The Transfer of Land is the document you and the vendor signs after your purchase the property. It gets lodged at the Land Titles Office after settlement. Nothing to do with the section 32.

There should be a land tax certificate in a complete section 32, yep.

 

[evisional]

Thanks Kate for your helpful advice.