New regime for property agents and residential property sales in Queensland : Property Occupations Act 2014

Christensen, Sharon (2014) New regime for property agents and residential property sales in Queensland : Property Occupations Act 2014. Australian Property Law Bulletin, 29(5), pp. 86-90.

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This article examines the new Property Occupations Act 2014 (POA) and relevant provisions of the Agents Financial Administration Act 2014 (AFAA) and the impacts for property practitioners. The Acts are due to commence later in 2014 once regulations and relevant forms are drafted. Coinciding with the commencement of the Acts further versions of the REIQ Houses and Land Contract and REIQ Community Title Contract will also be released. The POA introduces changes for licencing of real estate agents, property developers and resident letting agents as well as significant changes for the contract formation process. The AFAA includes the trust account and claim fund provisions of PAMDA, which avoids duplication of these provisions across each of the industry-specific Bills. The most significant change is to the process for making a claim against the fund for the conduct of property agents.

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ID Code: 76356
Item Type: Journal Article
Refereed: No
Keywords: Property Occupations Act, real estate agents, sale of residential property
ISSN: 0817-2854
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Property Law (excl. Intellectual Property Law) (180124)
Divisions: Current > Research Centres > Commercial & Property Law Research Centre
Current > QUT Faculties and Divisions > Faculty of Law
Current > Schools > School of Law
Copyright Owner: Copyright 2014 Lexis Nexis Butterworths
Deposited On: 25 Sep 2014 22:20
Last Modified: 29 Sep 2014 20:06

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