Re: Purchaser insisting on clear s47 when land tax paid at settlement
15-01-2021 08:59 AM
I noticed the standard terms of the NSW Contract changed between the 2018 and 2019 editions regarding land tax charges -
Clause 16.6 of the 2018: "If a party serves a land tax certificate showing a charge on any of the land, on completion the vendor must give the purchaser a land tax certificate showing the charge is no longer effective against the land."
Clause 16.6 of the 2019 edition: "If a party serves a land tax certificate showing a charge on any of the land, by completion the vendor must do all things and pay all money required so that the charge is no longer effective against the land."
The NSW Law Society said the update reflects the change in process of clearing land tax charges, including payment via an ELNO on settlement. From my understanding, there is actually no requirement under the 2019 edition of the Contract to provide a clear s 47 certificate prior to settlement now.
Seems odd that they wouldn't even accept an undertaking.