Key legislative changes over the past year for property owners, landlords, developers, lawyers and other advisers

The past 12 months have brought significant legislative reform across the property sector, creating new compliance obligations and risk considerations for property owners, landlords, developers, lawyers and other advisers.

From mandatory merger notifications and new landlord offences to expanded AML/CTF obligations and conveyancing amendments, practitioners must stay alert to avoid regulatory risk and ensure compliance.

ACCC mandatory merger notification regime

On 1 January 2026 we saw a major shift in Australia’s competition law framework with the introduction of mandatory merger notification thresholds administered by the Australian Competition and Consumer Commission (ACCC).

Before completion, certain mergers and acquisitions must be notified to the ACCC. Transactions cannot proceed unless ACCC approval is obtained or a notification waiver is granted.

Despite some clarification and relief connected to property transactions, practitioners should remain cautious even when some land and property transactions are now exempt.

NSW Tobacco legislation - new criminal offences for commercial landlords

From 1 July 2026, commercial landlords now face a new criminal exposure. Under the Public Health (Tobacco) Amendment (Landlord Offences) Act 2026 (NSW) (the Act), a landlord who knowingly permits a tenant to sell illicit tobacco or vapes from the premises risks a fine up to $165,000, 12 months imprisonment, or both.

A “reasonable excuse” defence is available, but the onus is on the landlord to prove it. The offence targets landlords who know what is happening and choose not to act. Reporting the conduct or moving to evict may reduce the exposure.

The Act also broadens landlord termination rights. Previously, only retail shop landlords under the Retail Leases Act 1994 could terminate a lease where a closure order was in effect. That right now extends to any landlord of retail or non-retail commercial premises.

Commercial leases should be reviewed to ensure compliance obligations, robust termination rights, and clear mechanisms to respond swiftly to unlawful use.

For a more in-depth look at these changes, please visit our previous article titled: ‘NSW Landlords – new laws may impose liability for illicit tobacco and vape sales’

AML/CTF reforms - Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (‘The Act’)

The AML/CTF regime has expanded significantly with the inclusion of Tranche 2 entities under The Act. since 1 July 2026, it has applied to real estate developers, lawyers and conveyancers, and accountants and trust/company service providers.

Whilst these sectors have historically been considered high-risk, they were previously unregulated for AML/CTF purposes.

Affected businesses must do the following:

·         Enrol (and where required, register) with AUSTRAC.

·         Implement a risk-based AML/CTF program.

·         Conduct initial and ongoing customer due diligence.

·         Report suspicious matters and certain transactions.

·         Maintain prescribed records.

Whilst legal professional protections remain intact, compliance obligations will materially affect how property transactions are onboarded and managed.

Conveyancing and Real Property Amendment Bill 2025 (NSW)

Significant amendments clarify long-standing uncertainties and introduce new procedural requirements.

The amendments confirm that put options fall within the statutory definition of “option”; vendor disclosure requirements apply; and cooling-off provisions apply to option agreements. Prescribed terms, conditions and warranties now apply to all options, including options to compel purchase.

Cooling-off notices

·       Cooling-off rights apply to option agreements generally but not to contracts formed on exercise of an option.

·         Old or new cooling-off notices were accepted until 31 May 2026.

·         The new prescribed form has been mandatory since 1 June 2026.

Expanded land title instruments (s 88B Instruments)

When land is developed or subdivided, certain obligations and rights affecting the land are often recorded on title, so they bind future owners. This is done through a document lodged with the land registry at the time a plan is registered.

Proposed amendments to s 88B will expand what these instruments can be used to formally remove or release, extending to a wider range of rights and obligations attached to land, including: 

·         maintenance and repair obligations (under s88BA).

·         restrictions on land use imposed by government or public authorities (under s88D or s88E), and

·         public positive covenants imposed by a prescribed authority under s88D or s88E.

Once in force, these changes will give landowners and developers greater flexibility to simplify or clean up title arrangements as part of a subdivision or development, reducing long-term compliance and title risk.

These reforms signal closer regulatory oversight across routine and large-scale property work alike. Early risk identification and updated documentation will matter. Our property team can assist clients assess their exposure and implement practical compliance steps.

Author: Andrew Grima

This publication is intended as a source of information only. No reader should act on any matter without first obtaining professional advice.