Reforms to off-the-plan contracts
What’s this about?
The Conveyancing Legislation Amendment Act 2018 was introduced November 2018 to bring stronger protections for purchasers who buy property off-the-plan.
It provides purchasers with greater certainty about what they are buying through a new mandatory disclosure regime specific to off-the-plan and statutory remedies where the final product differs from what was disclosed.
A discussion paper has been released on proposed regulatory changes that support the new regime.
The proposed regulation outlines matters including:
- what vendors will need to disclose
- consequences of non-disclosure
- an alternative remedy of compensation where there have been material changes during the development.
Have your say
There are two ways you can provide your feedback:
- Email: [email protected]
- Mail: Conveyancing (Sale of Land) Amendment Regulation
Office of the Registrar General
2-24 Rawson Place
Sydney NSW 2000
Have your say by 24 July 2019.