South Australian Numbered Acts

STATUTES AMENDMENT (REAL ESTATE INDUSTRY REFORM) ACT 2007 (NO 28 OF 2007) - SECT 34

34—Amendment of section 6—Abolition of instalment purchase or rental purchase arrangements

        (1)         Section 6—after subsection (2) insert:

        (2a)         A contract under which a person has—

            (a)         a right or obligation to purchase land; but

            (b)         an obligation to pay rent in respect of a period of occupation of the land of more than 6 months before the right is exercised or the purchase completed,

is voidable at any time at the option of that person.

        (2b)         A person will not be taken to have elected to affirm a contract that is voidable under subsection (2a) by reason of a payment made under the contract.

        (2c)         If a person avoids a contract that is voidable under subsection (2a), the person may, by action in any court of competent jurisdiction, recover any amount paid under the contract in excess of what would have been fair market rent for any period for which the person has occupied the land under the contract.

        (2)         Section 6(3)—after the definition of "deposit" insert:

"rent" includes any amounts payable in respect of a right to occupy land.