3. A competent authority may enter into an agreement under subsection 1 or 1A with a person who considers that person to own the land. In both cases, the Commission recommends that counsel seek advice prior to filing such an application, as in some cases a lawyer is required to identify the parties involved in the Section 173 agreement. As part of the Commission`s review of the application, other contracting parties are informed of the application and have the opportunity to oppose the proposal to terminate or amend the agreement. If you fail to reach an agreement with the Council on an amendment to the agreement, you can request a review of the decision, which is usually done through VCAT. The Commission must ask the Registrar of Titles to record a property agreement pursuant to Section 173. Before the contract can be registered, anyone who has given a mortgage on the country must also accept that it is registered. This may include a bank or financial institution. When considering buying land, it is important to check if 173 agreements are registered on the title. This way you can see what the restrictions are before you buy.
Another application for approval for the cancellation or removal of an obligation to an agreement is considered by the Commission in its assessment of the planning. Please note that this does not mean that this does not mean that consent must be or will be given, as consent may be given to amend or waive the requirement. If you wish to amend an agreement in accordance with Section 173, all parties must approve the amendments, as this is a binding contract. Therefore, if you are not satisfied with the existing terms of an agreement, you must apply to the Council. The precise procedure for dealing with proposed changes to an agreement varies from council to council, in order to contact your local council for more information. Agreements are usually reached between the Council and a landowner. However, this is not always the case, as a third party may sometimes be involved. (4) If, in this department, an agreement with a buyer in anticipation of the buyer`s owner is covered by the Registrar of Titles, it does not engage the seller unless the seller assumes the rights and obligations of the buyer under the contract.
An agreement may end after an event or a specified period if described in the agreement. If the agreement does not provide a mechanism to terminate the agreement, the owner or any other interested party may submit a request to the Commission to terminate the agreement. This request must address the issues referred to in Section 178 B of the Planning and Environment Act 1987. A lawyer will be able to assist in the development and negotiation of the terms of the agreement as well as in the verification process with VCAT, if any.