sale of land act victoria Page 28

The Sale of Land Act Victoria is a piece of legislation that governs the sale and purchase of land within Victoria, Australia. It sets out the legal requirements for contracts, disclosure of information, cooling-off periods, and other protections for buyers and sellers. Notably, it mandates a vendor's statement (Section 32) which discloses critical details about the property.

Key points include:

• Mandatory vendor disclosure to protect buyers from nasty surprises.
• Cooling-off period allowing buyers to back out within three clear business days.
• Regulation of contracts for sale of land to ensure fairness.

For detailed advice or case-specific interpretations, consult the official Victorian legislation or a legal professional.