There are specific terms and conditions which apply to Heritage Agreement properties that practitioners and future buyers should be aware of.
Across the state there are nearly 1500 Heritage Agreements in place on properties, covering over 620,000 hectares 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 only be made with the written authorisation of both parties.
It is recommended that 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 as there are specific terms and conditions which apply to Heritage Agreement properties that practitioners and future buyers should be aware of.
The Department for Environment and Heritage can provide more information on this issue. Visit www.environment.sa.gov.au