QLS and REIQ are preparing updated editions of the Contract for Commercial Land and Buildings and the Contract for Commercial Lots in a Community Titles Scheme.
The new commercial contracts will be made available on 21 July 2022 on the QLS website, with materials summarising the significant changes.
The new Contract for Commercial Land and Buildings (new 9th ed.) has been significantly updated to be more consistent with the other REIQ contracts. The new Contract for Commercial Lots in a Community Titles Scheme (new 8th ed.) includes changes to reflect the updates to the residential contracts earlier this year.
For Lexon members, Lexon has updated the conveyancing materials to assist practices in integrating changes into precedents. Please see Lexon risk alert 1 of 2022/23 (11 July 2022) for details.