How Does The Property Occupations Act 2014 (QLD) (“POA”) Affect The Contract?
Application of Property Occupations Act (POA) Property Occupations Act 2014 (QLD) contains provisions relating to the sale of residential property . Those provisions apply to contracts for the sale of property that is used, or is intended to be used, for residential purposes but will not apply to a contract: for the sale of property where it is used primarily for industry, commerce, or primary production; formed on a sale by auction (directly on the fall of the hammer by outcry or directly at the end of another similar type of competition for purchase); entered into, no later than 5.00 pm on the second clear business day after the Property was passed in at auction with a registered bidder for the auction; formed because of the exercise of an option granted under an earlier agreement if the parties to the Contract are the same parties as in the earlier agreement; where the Buyer is: a publicly listed corporation; or a subsidiary of a publicly listed corporation; or the...