A bill that prevents developers from unjustly terminating off-the-plan contracts was last week introduced to state parliament.
A statement from the office of the Attorney-General Yvette D’Ath said there were reports of developers invoking a ‘sunset clause’ to terminate off-the-plan contracts allegedly so they could “re-list and sell the proposed lot for a much higher price”.
“This has left home buyers out of pocket and without a home,” the statement read.
The bill would see restrictions on when property developers can invoke a ‘sunset clause’ to terminate the contracts for land to specific situations, which are: with the written consent of the buyer; or under an order of the Supreme Court; or in another situation prescribed by regulation.
