Section 32 Vendor Statement
Legally required disclosure document from the vendor in Victoria (other states have equivalents).
Definition
A Section 32 Vendor Statement (named after Section 32 of the Sale of Land Act 1962, Victoria) is a legal document that the vendor must provide to a buyer before the buyer signs the contract of sale. It discloses critical information: title details, encumbrances, zoning, planning permits, building permits, outgoings (rates, insurance, body corporate fees), owner-builder work, and services connected. Other states have equivalent disclosure requirements under different names.
Related terms
Stamp Duty (Transfer Duty)
State government tax paid when you buy a property — usually 3–5.5% of purchase price.
Cost Base
Everything you spent acquiring, holding, and improving a property — used to calculate CGT.
Settlement Date
The day ownership legally transfers and you pay the balance — triggers CGT and withholding events.
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