September 25, 2022

Volume XII, Number 268

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Significant Changes Approaching as Property Law Act 1974 (QLD) Set to Be Replaced

In a move that many in the industry might consider radical, the long-standing Property Law Act 1974 (Qld) is set to be replaced as new draft legislation has been made publically available for community feedback.

The draft Property Law Bill 2022 (Bill) has been developed based largely on the recommendations of the Commercial and Property Law Research Centre at the Queensland University of Technology (QUT) following its independent review of current legislation. The intention of the Bill is to modernise property law in Queensland with contemporary language that reflects current commercial practice. QUT's final report made 232 recommendations, the bulk of which call for the repeal of outdated provisions or the redrafting of the existing provisions in modern language.

Some examples of the proposed new provisions introduced by the draft Bill include:

  • A person can lease property to themselves, without the interests merging;

  • Time stops being of the essence in a contract for the sale of land if a party to the contract cannot complete settlement of the contract on the day and time of settlement due to an "adverse event";

  • If a Tenant assigns the lease to another person (the assignee) and after the assignment of the lease, the assignee assigns the lease to another person (subsequent assignee), the tenant is released from liability to the Landlord for a breach of the lease by the subsequent assignee; and

  • If a Landlord refuses to renew or extend the term of a lease because the Tenant has breached the terms of the lease, the Tenant has given a non-conforming option notice, or the Tenant has breached a condition precedent to exercising the option, the Tenant may apply to the Court for relief in certain circumstances.

The proposed Bill is currently open for public feedback and some property industry, legal and academic stakeholders have already expressed disagreement with certain areas of the Bill.

While the draft Bill is likely to undergo amendments before being read, it is clear that the property legislation that has serving Queensland for nearly 50 years may soon receive a facelift.

We will stay across the upcoming changes and continue to provide updates.

Shannon Beale also contributed to this article. 

Copyright 2022 K & L GatesNational Law Review, Volume XII, Number 266
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About this Author

Christopher Wille, KL Gates, due diligence lawyer, acquisitions attorney
Partner

Mr. Wille is a partner in the Brisbane office and a leading Queensland real estate lawyer. He has experience in all aspects of commercial, retail and residential property including due diligence, acquisitions, disposals, development and leasing.

He advises major owners and developers on mixed use and residential projects including preparing documents for project set up and ongoing sales work, advice on community titles schemes, owner disclosure and compliance, sales co-ordination and project management.

He advises major...

61-7-3233-1223
Wilson Twist Real Estate Lawyer Brisbane
Lawyer

Wilson Twist is a real estate lawyer in the firm's Brisbane office. Wilson has experience across a range of commercial real estate matters including property transactions, development and leasing.

He assists in all aspects of acquisitions and disposals including preparation of transaction documents (such as contracts, options and bespoke agreements), negotiations and due diligence. 

He also assists clients on property development projects including advice on structuring, land acquisition, approvals, funding and titling...

61-7-3233-1210
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