COMMUNITY TITLE ACT 2001 - SECT 29 Implied term in contract for sale of lot
COMMUNITY TITLE ACT 2001 - SECT 29
Implied term in contract for sale of lot(1) Until the development of a community title scheme is finished, the developer of the scheme warrants to a person who purchases a lot or a proposed lot of scheme land, or who is a prospective owner of a lot or a proposed lot of scheme land, that the development will be carried out in accordance with the scheme.
(2) A warranty under subsection (1)—
(a) is enforceable in the same way as a contractual warranty; and
(b) cannot be limited or excluded by contract.
(3) Without limiting the damages
recoverable for breach of the statutory warranty, the owner or prospective
owner of a lot may recover damages for the loss of a reasonably expected
capital appreciation of the lot that would have resulted from completion of
the development in accordance with the terms of the community title scheme.