The Law Institute of Victoria has recently released a new version of their contract of sale of land. The By Lawyers Conveyancing Guide has been updated to include references to the current clauses of the 2019 LIV contract.
While no form of contract is prescribed by law any longer, various requirements are prescribed before a contract can be enforced.
The 2019 By Lawyers Contract of Sale of Land also meets these requirements and has a number of advantages over the LIV contract. The sale and purchase commentaries in the By Lawyers Conveyancing Guide include a detailed comparison between the LIV contract and the By Lawyers contract on a clause-by-clause basis, to assist in comparing them.
The By Lawyers Contract of Sale of Land, co-authored by conveyancing guru and By Lawyers author Russell Cocks, provides a vendor’s statement and contract in one document. The By Lawyers contract is specifically designed for residential conveyancing transactions and seeks to overcome some of the traditional road blocks that arise.
The By Lawyers 2019 Contract of Sale of Land is located in the Contract folder in the Sale of Real Property Guide and is also available to purchase through InfoTrack.