Legal record - Real Estate & Stock Institute of Victoria Contract of Sale of Property (C.E.Carter of Ringwood - Agent), Vendor: Samuel BROOKES. Purchaser: Albert Leonard STEPHENSON - January, 1945

Physical description

Copy of contract, correspondence and covering typewritten summary.

Inscriptions & markings

18726 Brookes - Stephenson AI Summary:
The document records a contract of sale dated 5 January 1945 between Samuel Brookes of 49 Combarton Street, Box Hill, as vendor, and Albert Leonard Stephenson of Belle Vue Avenue, Ringwood, as purchaser. The property comprised 6 acres, 3 roods and 38 perches, being part of Crown Portion 16, Parish of Ringwood, County of Mornington, and part of the land described in Certificate of Title Volume 6231 Folio 1246035. The sale included all buildings and erections on the land together with all registered appurtenant easements. The agreed purchase price was £613, with a deposit of £125 (£100 on signing and a further £25 within 14 days of receiving Government consent), and the balance payable by instalments with interest. The property is also identified in the accompanying correspondence as being situated at Ryrie Street, Ringwood (later Great Ryrie Street).
The contract incorporated the 1936 Copyright Conditions of Sale together with special wartime provisions requiring compliance with the National Security (Land Transfer) Regulations and the National Security (Economic Organisation) Regulations. The purchaser was required to acknowledge the provisions of the Farmers’ Debts Adjustment Act 1935 and obtain a certificate of exemption if required. Additional correspondence included with the contract shows that the Commonwealth Sub-Treasury reviewed the transaction and advised that consent would be granted only if the interest rate on the unpaid balance was reduced to 4½ per cent. Subsequent correspondence confirmed the vendor’s agreement to the reduction and the amended contract was returned for approval, enabling the transaction to proceed under the required government consent process.

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