Question
You are acting for a vendor of real estate in NSW and have been asked by your employer to insert a special condition in the
You are acting for a vendor of real estate in NSW and have been asked by your employer to insert a special condition in the standard contract for sale approved by the Law Society of NSW and the Real Estate Institute of NSW as follows:
"The Purchaser shall not be entitled to require the Vendor to register a discharge of any mortgage or withdrawal of any caveat in respect of the subject property prior to completion but on completion will accept a discharge of mortgage or withdrawal of caveat in registrable form provided that the Vendor shall allow to the Purchaser the appropriate registration fee."
Does this special condition add anything to the rights of the parties under the standard contract or by law?
Which of the following answers best describes the response you should provide? Select one answer only.
Group of answer choices
A.Yes, it prevents the purchaser from raising a requisition on this issue, or forcing the vendor to register these documents before completion.
B.No, the standard contract covers the issue comprehensively, and accordingly it is unnecessary.
C.Yes, the standard contract is silent on this issue, and the inclusion of this clause adds certainty.
D.Yes, because the standard contract does not cover the issue of the registration fee.
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