When landholders ask whether they should sell their property before it is compulsorily acquired, the answer is usually no!
Nevertheless, some people need to sell. If you must do so, then it is imperative that you speak with a compulsory acquisition lawyer at least 2 months prior to sale.
In most circumstances, a 60 day notice must be provided to the acquiring authority before the property is sold, otherwise a claim for loss on sale may not be possible. If you have already listed or sold your property without providing the requisite notice, we can advise if you a claim can still be made, however in most cases you will be statute barred.
Recently, some residents affected by the Yan Yean Road duplication have found themselves navigating the pitfalls of the legislation. You may wish to read the articles entitled “Land sell-up” and “An $8300 fightback against the new Yan Yean Road”, both on page 3 of the Diamond Valley Leader dated 21 September 2011.