Legal uncertainty addressed for off-the-plan projects

The State Government has acted on industry advocacy to clear up the legal uncertainty about the ability of developers to enforce sales contracts if they were signed before they owned the land.

New legislation – the Sale of Land Amendment Bill 2016 has been introduced to State Parliament this week to support the timely release of new subdivided lots, enabling developers to invest while providing better protections for buyers.

Lands Minister Terry Redman said the Government’s proposed legislation would enable developers to sell lots off the plan while also providing extra protection for buyers.  “The amendments to the Act will clearly state the obligations of developers and buyers when the developer is not the registered owner of the land at the time of sale,” Mr Redman said.

The Property Council lead the industry call to act on this matter and we are reviewing the Bill closely to ensure that it adequately addresses the industry issues.

You can read the Minister’s statement here.