Loose-Fill Asbestos Insulation

11 Oct Loose-Fill Asbestos Insulation

If your home was built before the 1980’s it could be affected by hazardous Loose-Fill Asbestos insulation, which was used as insulation in the 1960’s and 1970’s.
The NSW Government is proposing new laws which will require you when selling your home to confirm whether it contains or is free from Loose-Fill Asbestos. Non compliance with these laws could result in significant financial loss. These laws are expected to include:

• The establishment of a public Loose-Fill Asbestos Insulation Register
• Mandatory hazard labelling of affected properties
• Identification of affected properties on section 149(2) planning certificates
• The development of a generic warning statement for inclusion on section 149(5) planning certificates for pre-1980s homes across 28 local government areas
• The consideration of a warning statement as a prescribed document on a Contract of Sale and for the vendor to warrant that a property is free of loose-fill asbestos.
• Amendments to residential tenancy laws to protect current and future tenants living in premises affected by loose-fill asbestos insulation and ensure it is disclosed by real estate agents

NSW Fair Trading is providing free sample testing to owners of pre-1980s residential premises in 28 local government areas provided that you register on line by 1st August 2016. There is also a financial assistance package in the case where Loose-Fill Asbestos is found.

If your property is not in one of the 28 local government areas then you can apply to have the testing done your self through a licensed asbestos assessor. You will have to pay for this yourself, however if the test is positive, the cost of the inspection will be reimbursed and the programme will be extended to include your local government area.

As part of the Government’s assistance package, if the test comes back positive you can have your property valued by 2 independent valuers as if it was not affected by Loose-Fill Asbestos.

After the valuations have been received then you can either:

1. sell you home and land to the Government for market value or
2. sell your home only, have the Government demolish it and remediate the land so that you can then rebuild.

To take advantage of this you must register by 1st August 2016 . If you do nothing and your home does contain loose-fill asbestos you risk being unable to sell or rent your home in the future.

For more information please contact Alexandra Tzavellas Email: atzavellas@harrisco.com.au

or visit

http://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Loose_fill_asbestos_insulation.page