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31 MAY 2010 – CONTAMINATED LAND / ENVIRONMENTAL REGISTER

31 MAY 2010 – CONTAMINATED LAND / ENVIRONMENTAL REGISTER

Q.Does the Seller of a property have to notify the Buyer that land is recorded in the Contaminated Land Register or Environmental Management Register?

A. If land is recorded in the Contaminated Land Register or Environmental Management Register the Seller must, before entering into a Contract to dispose of the property, give written notice to the Buyer about the recording of the particulars in the registers and if the property is subject to a site management plan, details of the plan.

If the Seller fails to give this notice, the Buyer may terminate the Contract by written notice to the Seller before settlement or possession under the agreement, whichever is the earlier.

Upon termination all monies paid by the Buyer to the stakeholder must be refunded.

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