What is a "Material Change" Affecting Off The Plan Sales?

The Supreme Court of Victoria has recently decided a case that highlights a number of issues for off the plan sales and developments in Victoria.

The Court addressed situations where purchasers are entitled to rescind off the plan contracts because of amendments to the plan of subdivision that will materially affect the lot which has been sold.

The decision demonstrates the Court's continuing shift toward protection of "vulnerable purchasers" in property transactions and emphasises the narrow scope for a developer to amend a plan of subdivision without jeopardising existing contracts.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.