What Does “Pay” Really Mean in a Property Contract? Paid or Received?

By Xiaonan (Nancy) Wang, Legal Practice Director, W & G Lawyers

When it comes to property contracts in Queensland, timing is everything. A recent Court of Appeal decision has clarified a deceptively simple but critical question: does “pay” mean that funds are treated as paid once the buyer initiates a transfer, or only when the deposit holder actually receives the money?

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