For 65 years, the Law Society of NSW and the Real Estate Institute of NSW have produced and published a standard form Contract for the sale and purchase of land (as it is now called), upon which generations of parties to real property transactions have relied.

Since our two organisations signed the first deed in 1961 to establish a Joint Committee to publish the Contract, its terms have continued to evolve, in response to ever-expanding regulation, judicial interpretation, and the march of technology.

A constant through those years has been the real property law experts who volunteer on the Law Society committees, applying their expertise and well-honed drafting skills, to ensure that the Contract remains current and practical.

On behalf of the Law Society, I thank the Property Law Committee and its dedicated subcommittee members for continuing to make sure the Contract can be relied upon by our members, transacting parties, and industry more broadly.

The 2026 edition updates the cooling off notice, following amendments made by the Conveyancing and Real Property Amendment Act 2025 (NSW). These legislative changes resolve uncertainty in relation to put options, highlighted by the Supreme Court’s decision in BP7 Pty Ltd v Gavancorp Pty Ltd [2021] NSWSC 265.

The Contract also includes other legislative and practice updates, and mentions solicitors’ new obligations under the incoming Tranche 2 reforms to the AML/CTF regime. Vendors can now specify a solar power battery, and internet equipment, as inclusions. Back in 1961, those would have belonged in the realm of science-fiction.

The new contract and FAQs about the changes are available at our Digital Contracts Service. The previous 2022 edition will be withdrawn on 13 March, though solicitors and conveyancers can access a free insert to update the cooling off notice in contracts or option agreements which have been drafted using the prior edition.

Law Society Journal ‘marches’ into 2026
The March edition of the Law Society Journal, the first for 2026, should be landing on your desks, or in your post box, very soon and it is a compelling read … even if I do say so myself! I sat down with Acting Editor Karl Hoerr to outline my President’s Priorities for the year, giving me the opportunity to look ahead with confidence to a year that I believe will advance the interests of the profession and strengthen our justice system.

The edition also features an interview with AUSTRAC CEO Brendan Thomas, which will be of keen interest to any practitioner who’ll face new obligations with the incoming Tranche 2 reforms.

It also enshrines in print the inspiring speech by Law Society Councillor Alexia Ereboni Yazdani at the Armenian Orthodox Opening of Law Term function last month. In just a thousand words, Alexia delivered a masterclass on the importance of community cohesion in these difficult times. I found this quote to be particularly moving:

At its best, the law is not cold or detached. It is a structure built to protect human dignity. It exists to restrain harm, to hold power accountable, to give voice to those who might otherwise be unheard. It is imperfect because we are imperfect, but it is vital because people are.

In addition to receiving the hard copy, Law Society members can access the March edition (and all back editions) of the Law Society Journal here.

Ronan MacSweeney, President, The Law Society of NSW