For lawyers in Queensland
Once a property is registered with Homes for Homes, it continues to participate even when the property is sold, facilitating a 0.1% donation of the sale price at time of sale by subsequent homeowners. This creates a long-term donation stream. Donated funds are granted to housing associations to increase the supply of social and affordable housing, providing shelter to some of Australia’s most vulnerable people.
How the legal mechanism operates in Qld
To recognise a property’s participation in Homes for Homes, Homes for Homes lodges an administrative advice over the land. An administrative advice is a noting recorded on the title to provide further information about the property. The administrative advice does not prevent the registration of any other dealings you want to list on your title.
When representing a seller
Step 1: Identify participating property
When conducting a title search, a participating Homes for Homes property is easily identifiable. Homes for Homes recognises a property’s participation by registering an administrative advice over the land title. The administrative advice will appear in as a dealing type ‘HSG Don Deed Housing Act 2003’ in the Administrative Advices section.
Step 2: Disclose Homes for Homes in contract of sale
A property participating in Homes for Homes must be disclosed as a special condition in the contract of sale. Simply download for insertion in the contract.
Step 3: Disburse Homes for Homes donation
The Land Titles screen will show the Administrative Advice on title. Navigate to the Financial Settlement Schedule.
Create a disbursement line item in PEXA for 0.1% of the contract of sale price using Account 033002 794669.
As a voluntary initiative, the proprietor on title can withdraw a participating property at any time. Homes for Homes can only act on the instructions of the proprietor, so if your client wishes to withdraw, please instruct your client to email Homes for Homes at [email protected]. Upon receipt of request, Homes for Homes will prepare and lodge a request to remove the administrative advice with Titles Queensland. Homes for Homes will notify the proprietor when the property has ceased participation.