An approved disclosure statement must be given to a prospective home owner. The operator cannot enter into a site agreement unless the disclosure statement has been given at least 14 days before.
Below is an extract from the Residential ( Land Lease ) Communities Act 2013 regarding Disclosure Statements – The information is correct as at 22nd December 2015.
(1) The operator of a community must not enter into a site agreement with a person unless the operator has provided the person (or another person acting on behalf of that person) with a disclosure statement relating to the particular residential site at least 14 days before entering into the agreement.
Maximum penalty: 100 penalty units.
(2) The disclosure statement is to be in the approved form and is to include:
(a) details of the fees and charges that will be payable under the proposed site agreement for the particular residential site, and
(b) details of the current range of site fees paid in the community, and
(c) details of the services and facilities available in the community, and
(d) details of compliance with statutory requirements applying to the community.
(3) A disclosure statement is to be signed and dated by the operator.
(4) The Tribunal may, on application by a prospective home owner, make an order requiring the operator of a community to provide a disclosure statement if:
(a) a residential site in the community is available for occupation by the prospective home owner, and
(b) the operator fails to provide a disclosure statement in relation to the residential site to the prospective home owner within 14 days after a request for the statement is made.