New South Wales Consolidated Acts

RESIDENTIAL (LAND LEASE) COMMUNITIES ACT 2013 - SECT 138

138 Tribunal may value homes to facilitate sale

(1) The purpose of this section is to enable the Tribunal to assist an owner or operator of a community and a home owner to come to an agreement as to the value of the home owner's home where there is a proposed sale of the home from the home owner to the owner or operator of the community.

(2) The Tribunal may, on application by the owner or operator of the community or the home owner (or both), make an order determining the value of the home. For that purpose, the Tribunal may obtain a valuation of the home, or seek advice as to the valuation of the home, from one or more qualified valuers.

(3) Any costs payable to a qualified valuer are payable in such proportions as are agreed between the parties or (failing agreement) as ordered by the Tribunal.

(4) The Tribunal's determination of the value of the home is advisory only and does not bind the owner or operator of the community or the home owner or affect any agreement between them for the sale of the home (unless the agreement provides otherwise).

(5) Subject to the regulations, a reference in this section to a
"qualified valuer" is a reference to a person who--

(a) has membership of the Australian Valuers Institute (other than associate or student membership), or

(b) has membership of the Australian Property Institute (other than student or provisional membership), acquired in connection with his or her occupation as a valuer, or

(c) has membership of the Royal Institution of Chartered Surveyors as a chartered valuer, or

(d) is of a class prescribed by the regulations.