New protections for off-the-plan purchasers

In its first substantive decision on recently-introduced protections afforded to purchasers of off-the-plan developments, the Supreme Court of NSW has provided valuable guidance on when, and on what terms, it will permit rescission of an

off-the-plan contract where a sunset date has passed.

This decision sends a strong signal to developers that the Supreme Court will hesitate to permit rescission of off-the-plan contracts under section 66ZL, even where the vendor's conduct cannot be said to be in bad faith or unreasonable.

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