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Tenancies: Essential Legal Guidance on Disclosure, Possession, and Rental Bonds

This guidance note offers expert legal insight into property sales subject to tenancy arrangements, focusing on critical disclosure obligations, possession issues, and rental bond management across Australian jurisdictions. Practitioners must understand the various state-specific contract provisions affecting vendors and purchasers.

Topics Covered

  • Disclosure of Tenancies in Contracts
  • Possession and Tenancies
  • Rental Bonds
  • Purchasers’ Rights and Entitlements
  • Vendors’ Ability to Sue Tenants for Pre-Completion Rent and Outgoings

Critical Elements

  • Assess mandatory disclosure requirements to avoid misdescription and potential contract rescission risks.
  • Understand how “vacant possession” and tenancy disclosures differ across Australian states and territories.
  • Recognise the legal complexities of granting leases between exchange and settlement dates.
  • Consider statutory and contractual nuances in handling rental bonds and security deposits.
  • Evaluate purchaser and vendor rights regarding tenancy documents, bond transfers, and notices of attornment.

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