Legislative reform 2025: what you need to know about this year’s property law reforms

As we look ahead at the legal landscape of 2025, the industry is brimming with regulatory changes that will reshape the ways we practice, for the better.

Join us for a deep-dive into the two key legislative changes in the Property sector this year – the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 and Queensland’s Seller Disclosure Regime – as we unpack their implications and explore how you and your teams can prepare for the changes.

1. Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024

What’s changing?

On November 29, 2024, the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 was passed. The amendments aim to modernise Australia’s AML/CTF framework, addressing evolving threats and technologies while reducing compliance burdens on businesses.

Key updates include:

Expansion of the AML/CTF Regime: Higher-risk services, such as those provided by real estate professionals, lawyers, and accountants, are now included under the regime
Simplified Compliance: Businesses will benefit from streamlined compliance processes, making it easier to meet legal obligations

Modernised Framework: The updates address advancements in technology and emerging methods of illicit financing, ensuring the regime remains robust and effective.

What does this mean?

Broader compliance obligations
While compliance processes have been simplified in this Amendment, AML/CTF requirements have expanded, with rigorous client due diligence measures, such as verifying identities and monitoring transactions for suspicious activity now required of all those under the regime.

Opportunities to strengthen trust
With stronger compliance strategies, legal practitioners can demonstrate their commitment to safeguarding client interests and maintaining ethical standards.

Investment in technology
To stay compliant, firms may need to invest in specialised software and training to streamline AML/CTF processes. Automating client verification and transaction monitoring can help reduce the burden on legal teams.

Preparing for the change

We recommend reviewing the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 to understand the updated framework and how the new requirements relate to your practice.

You should also ensure all staff are trained on the updated AML/CTF obligations and their practical application, and if need be, implement systems to automate and simplify your due diligence processes.

2. Seller Disclosure Regime (Queensland)

What’s Changing?

Starting on August 1, 2025, Queensland will introduce a Seller Disclosure Regime under the Property Law Act 2023. This move aligns Queensland’s property regulations with existing rules in New South Wales and Victoria. The goal is to create a smoother and more transparent property transaction process for buyers while setting clear obligations for sellers.

Key aspects of the Property Law Act 2023 include:

Standardised Seller Disclosure Requirements: Sellers will need to provide detailed information about the property upfront, before contract formation. This includes essential details like zoning, title information, and any encumbrances
Electronic Conveyancing Enhancements: The legislation encourages the use of digital contracts and electronic signatures, streamlining the conveyancing process and reducing administrative overhead

What does this mean?

Enhanced due diligence responsibilities

You’ll likely need to guide clients through the new disclosure requirements, and ensure all necessary information is provided in compliance with the law. Failure to do so may lead to disputes or delays in transactions.

Greater reliance on technology

The push towards electronic conveyancing means legal practitioners must adopt and integrate digital tools into their workflows. Familiarity with e-conveyancing platforms and electronic signature technologies will become essential to maintaining efficiency and compliance.

Collaboration with Industry Partners

InfoTrack is working closely with the Queensland Law Society and the Real Estate Institute of Queensland to develop solutions that support legal professionals and agents during this transition.

Preparing for Change

Our partners and industry experts recommend educating yourself on the changes. You can review the Proclamation-Property Law Act 2023 and related regulations, including the Body Corporate and Community Management (Body Corporate Certificates) and Other Legislation Amendment Regulation 2024 on the QLD Legislation Publications website.

You should also consider whether internal processes, workflows and electronic conveyancing tools meet the demands of the new disclosure requirements and take the necessary actions to ensure you’re ready for the changes come August.

How to stay ahead in 2025

Proactively addressing these changes with the right technology will ensure:

Compliance: Meet all regulatory requirements and avoid penalties
Efficiency: Streamline workflows, saving time and reducing costs
Client Confidence: Show your commitment to security, accuracy, and contemporary practices

The regulatory landscape in 2025 will bring challenges for your practice, but also exciting opportunities for those ready to adapt.

InfoTrack’s suite of Prop-tech solutions empower the digital transformation of hundreds of organisations each year and continuously evolve to meet the demands of the digital age, whether that’s ensuring compliance with incoming legislation, or adopting the latest technological innovations.

The property industry is evolving fast, and staying informed is more important than ever. Subscribe to InfoTrack’s quarterly Property Market Update for the latest trends or join us as we explore industry changes and share insights through our monthly Practitioner Playbook.