This precedent is for use with the 2005 or 2014 edition of the Contract for Sale of Land by the Law Society of NSW and Real Estate of NSW. This special condition supplements clause 14 of the contract as it does not provide for the adjustment of rates where the land has not been separately assessed for rates.
There are 2 options for this special condition:
· option 1 apportions the rates on an area basis; and
· option 2 deems the rates to be set amounts for apportionment.
If the clause is intended to make land tax apportionable between the parties, clause 14.4.2 of the contract for must be deleted.
This precedent may be combined with other precedent special conditions when preparing a contract of sale in NSW.
This precedent has been authored for Lexis Nexis by Peter Kirsop, Special Counsel, MRM Lawyers and Garry Barnsley OAM.
This document is with the assistance of General Editor Christopher Conolly, Partner, TressCox Lawyers and Specialist Editor, Peter Rosier, Principal, Rosier Partners Lawyers.