As a property owner or investor, you’re likely familiar with the REIQ Contract, which is used for the sale and purchase of properties in Queensland. Recently, the REIQ (Real Estate Institute of Queensland) has made some important changes to the contract, which you should be aware of if you’re buying or selling property.
The REIQ has made several changes to the Contract, including:
From 20 February 2023, a required instrument must be lodged using eConveyancing unless an exemption applies. The required instruments mandated under the Land Title Regulation 2002 include transfers, mortgages, caveats, priority notices and an application to be registered as a personal representative for a registered owner of a lot who has died.
If you’re buying or selling property in Queensland, it’s important to be aware of these changes to the REIQ Contract. Our legal team can help you navigate the legal process and ensure that you’re up to date with the latest changes to the REIQ Contract. Please don’t hesitate to contact our office.
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