It is a legal document, also known as a Vendor’s Statement, and is so called because the information it must contain is set out in Section 32 of the Sale of Land Act. The Vendor (seller) is required to supply any persons who have an interest in purchasing their property with a Section 32BEFORE the Contract of Sale is signed.
Who prepares the Section 32?
The Section 32 should always be prepared by a qualified lawyer as it is a legal document. The Vendor should understand their responsibilities in preparing a Section 32 as misleading, false or omitting information can be a criminal offence and fines may be issued. The Buyer may also be able to withdraw from the sale.
What is in a Section 32?
It will depend on the type of property being sold but some of the basic information that should be found in a Section 32 are: Vendor Details, Title Details, information regarding Building Permits issued in the past 7 years, information regarding covenants, easements and any other restrictions on title, Planning Information (particularly where zoning restricts land use), information on services connected to the property, information regarding outgoings payable by owner of the property, particulars of any mortgages or charges against the land.
Who must sign the Section 32?
The Section 32 is only required to be signed by the Vendor.
What other information do I need to check?
There are some basic, common sense matters that need to be checked by the Purchaser against the information contained in the Section 32:
Does the person selling the property have the authority and right to do so?
Does the Certificate of Title have a detailed description of the property for sale? Is it the same block of land you wish to purchase?
Are the dimensions of the Lot the same as detailed in the Section 32 and are the boundary fences in the correct place?
Legal advice from a qualified lawyer should always be sought to ascertain that what is in the Section 32 is correct, if there is anything missing and to make any further enquiries on your behalf on any issues that need to be clarified.
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