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VIC Notice of Intention of Acquisition - Vendor should Notify Purchaser?

Discussion in 'Property Law Forum' started by Ann M, 2 July 2015.

  1. Ann M

    Ann M Active Member

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    I have a question: The vendor sold a lease hold estate to a purchaser who wants to use the property (including the car park) for his business. The purchaser would not have bought the lease hold without the use of the car park. A few weeks prior to settlement, the vendor receives a notice from Vic Roads of intention to compulsory acquire the car park for a new road. Is the vendor legally responsible to notify the purchaser of that notice? Would caveat emptor apply to the vendor?
     
  2. hlly

    hlly Well-Known Member

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    Very interesting question. The critical point here is likely to be whether the purchaser told the vendor that use of the car park was a precondition of purchase.
     
  3. Ann M

    Ann M Active Member

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    The vendor knew the purchaser would not have entered the contract without the use of the carpark.
    Thanks,
     
  4. hlly

    hlly Well-Known Member

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    1. Does the contract deal with this situation at all?
    2. Is the car park at all involved in the contract?
    3. Is the contract written?
    4. Did the vendor engage in any conduct calculated to prevent the purchaser from learning of the acquisition?
    5. Did the vendor know that the the purchaser didn't know about the acquisition?
     

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