Pamd Form 28 - Disclosure Of Beneficial Interest To Seller Form - Department Of Employment, Economic Development And Innovation

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PAMD Form 28

Disclosure of beneficial interest to seller

—by a real estate agent, real estate salesperson, auctioneer,

trainee auctioneer, pastoral house or pastoral house officer

ABN: 97 406 359 732

Property Agents and Motor Dealers Act 2000

Department of Employment, Economic

Development and Innovation (DEEDI)

This form is effective from 1 July 2009

WARNING

The client is advised to seek independent legal advice before signing this form.

This form is to be used if a real estate agent, real estate salesperson, auctioneer, trainee auctioneer, pastoral house or pastoral

house officer (‘selling agent’) acting for a client on sale of property obtains a beneficial interest in the property.

A selling agent commits an offence under the Property Agents and Motor Dealers Act 2000 if he or she obtains a beneficial interest

in the property, unless the selling agent obtains the client’s written acknowledgment that the client is aware that the selling agent

is interested in obtaining a beneficial interest in the property and the client consents to the selling agent obtaining the interest by

signing this form.

If the selling agent is a real estate agent, real estate salesperson, pastoral house or pastoral house officer, the client must sign this

form BEFORE the client signs a contract for sale of the property.

If the selling agent is an auctioneer or trainee auctioneer, the client must sign this form BEFORE the earlier of the auction of the

property or the client signs a contract for sale of the property.

Privacy statement—please read

The Office of Fair Trading is collecting information, including personal information, for the purposes of the Property Agents and

Motor Dealers Act 2000. In accordance with the legislation, information on this form can be disclosed without your consent where

authorised or required by law.

Part 1—Selling agent signature

Selling agent declaration

I,(the selling agent), declare:

(i) I am interested in obtaining a beneficial interest in the property.

(ii) the nature of the beneficial interest is:

(please describe nature of beneficial interest)

......................................................................................................................................................

(iii) no commission can be charged for this transaction.

Signature .......................................................................................................................................

Date

Part 2—Examples of beneficial interest in property

Under Section 13 of the Property Agents and Motor Dealers Act 2000, a selling agent is taken to have a beneficial interest in

property in the following cases:

• the purchase of property is made for the selling agent or the selling agent’s associate.

(The selling agent’s associate includes the selling

agent’s spouse, de facto spouse, parent, brother, sister, child or stepchild, or child or stepchild of the selling agent’s spouse or de facto spouse.)

• an option to purchase the property is held by the selling agent or the selling agent’s associate.

• the purchase of the property is made for a corporation

of which the selling agent or the selling

(having not more than 100 members)

agent’s associate is a member.

• an option to purchase the property is held by a corporation

of which the selling agent or the

(having not more than 100 members)

selling agent’s associate is a member.

• the purchase of the property is made for a corporation of which the selling agent or the selling agent’s associate is an executive

officer.

• an option to purchase the property is held by a corporation of which the selling agent or the selling agent’s associate is an