TENANCIES AND OCCUPANCIES – STANDARD CONTRACT

Under a typical standard contact:

TERMS OF OCCUPANCY

The Seller must give the Buyer vacant possession of the Property on Completion unless provided otherwise in the Contract. If the Property is to be sold subject to an existing tenancy, the Seller must annexe to the Contract both:

• a copy of the executed Tenancy Agreement or, where no written Tenancy Agreement exists, a Schedule evidencing the nature and terms of the tenancy.
• a copy of the condition report forwarded to the rental bond authority.

Otherwise the Seller must give the Buyer vacant possession of the Property on Completion.

IF THE PROPERTY IS SOLD SUBJECT TO AN EXISTING TENANCY:

The Seller warrants that:

• If applicable, the rental bond has been paid by the tenant
• If applicable, the seller has complied with the appropriate landlord and tenant legislation.
• If applicable, the seller has no notice of any application by the tenant for the release of the rental bond.
• No notices have been served on the seller or any agent of the seller or on the tenant other than disclosed in the contract and there are no outstanding claims or disputes with the tenant.
• There is no unremedied breach of the tenancy agreement whether written or otherwise by the tenant or the seller.

On completion the Seller must hand to the Buyer:

• Any written Tenancy Agreement to which the Contract is subject;
• A notice of attornment
• Any notice required to be executed by the Seller to give effect to the transfer or assignment of the rental bond by the rental bond authority to the buyer, if applicable.
• The Seller's copy of the Condition Report, if applicable
• Any other notice required to be executed by the Seller pursuant to relevant landlord & tenancy legislation, if applicable.