Who Receives the Original Contract?

Original Land Contracts | Ownit Conveyancing Brisbane | Cheapest Conveyancing QLD | Fixed Fee Conveyancing

Q. Which party should be given the originally signed Contract of Sale after it is signed, the Seller or the Buyer?

A. The usual practice is for the Buyer to be given the originally signed Contract.

Why? Under the Standard REIQ Contract the buyer must pay all Stamp Duty on the Contract. Under the Duties Act the original of a document is normally required to be stamped rather than a copy. Accordingly, the Buyer should be given the originally signed Contact.

Note – The duplicate copy of a Contract is not normally used for stamping although if the original contract has not been stamped the duplicate can be used for stamping purposes.

For a successful tendering of property, contact an independent legal service to help you at your best interest.

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Andrew has over two decades experience in high growth fast moving consumer goods, agribusiness and professional services. Supporting the Ownit team to deliver on client expectations, and implementing processes to scale the organisation, is a key focus for Andrew.

Andrew is a C-Suite leader with Chairman and Board experience.  He has formal qualifications in Business, Applied Finance and AICD Company Directors Course.

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