FROM THE BLOG

A section 32 will remain current as long as the information in it has not changed. A vendor should take note of the questions asked by the conveyancer when preparing the section 32, and read the section 32 upon completion so that they are fully aware of its contents and can advise if anything changes.

A good conveyancer will provide a broad statement as to property outgoings to ensure that when council and water rates increase your section 32 does not automatically become defective. However, some common situations that will cause a section 32 to become out of date include:

• The issuing of a notice, order, declaration, report or recommendation by a public authority or government department or an approved proposal that directly and currently affects the land.
• The holding of an annual general meeting or special general meeting where the property is subject to an owners corporation.
• The registration of a new mortgage or any change in ownership to the property.
• The disconnection of any service such as electricity, gas or telephone.

Depending on the age of the section 32, they can generally be updated relatively quickly and without additional costs, save for when new certificates may be required.