ACROSS the state, there are nearly 1500 Heritage Agreements in place on properties, covering more than 620,000ha of land.
A Heritage Agreement is a legal contract between a landholder and the state to manage an area of private land in such a way as to protect its high conservation value.
The agreement is registered on the property title and may cover part or all of a property. It is binding on all future owners of that property and is designed to be in place in perpetuity.
Alterations to a Heritage Agreement are uncommon and can be made only with the written authorisation of both parties.
It is recommended agents undertake the necessary searches and obtain the appropriate documents relating to the Heritage Agreement early in the sale process, so they can provide accurate information to potential buyers.
This information is important because t here are specific terms and conditions that apply to Heritage Agreement properties of which practitioners and future buyers should be aware.
The Department for Environment and Heritage has created an i nf ormation s heet t hat outlines the terms and conditions relating to a Heritage Agreement property.
The sheet can be downloaded from the A-Z section of the REISA website at www.reisa.com.au