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QLD Australian Consumer Law - Instalment Contract Questions

Discussion in 'Property Law Forum' started by Sez., 11 January 2016.

  1. Sez.

    Sez. Active Member

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    In a vendor finance/instalment contract agreement, if the buyer has defaulted numerous times and a 'Notice of Default with intent to terminate' letter has been sent to them, what does the seller do once the 30 day notice period is up? According to the form, the buyer has 30 days to pay the outstanding amount and continue with the instalment contract or the contract will be terminated.

    My questions are:

    What are the steps that the seller then has to take to remove the buyer from the premises, assuming there is no caveat? Does the seller just show up with police like they would in a mortgage repossession and order the buyers out?

    What rights do the buyers have if they don't remedy the outstanding monies by the due date under Australian Consumer Law?

    What if they remedy the money after the due date? For instance, if the due date was the 1st January and they remedy it on the 5th January?

    Please don't direct me to QCAT or the Courts. I have tried multiple avenues to get answers and no one can't help as this is a very specialised (and not well publicised) area of law.

    Thanks in advance.
     
  2. Rod

    Rod Well-Known Member

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    Hard to comment without knowing the exact terms of the contract.

    I'm not in Queensland so not sure if police or sheriff attend repossessions. And that would only be after a court order is ignored.

    If the contract is all above board (not unconscionable, no misrepresentation etc), and the seller has followed all terms of the contract, the buyer is unlikely to be able to exercise any ACL rights. Though this may not stop them trying.

    re: Remedy by paying money. Depends on whether you keep the money or return it. If you keep the money you are likely deemed to have accepted the payment and continuation of the contract.

    As you say, this is specialised area and you are going to have to pay for legal proper advice.
     
  3. Sez.

    Sez. Active Member

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    So the seller needs to get a court order to remove the buyer from the premises?
     
  4. Rod

    Rod Well-Known Member

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