Stronger buyer protections for 'off the plan' land sales
Property buyers now have better protections when buying land 'off the plan' following recent Queensland Government reforms.
Previously, sellers could generally terminate a sale contract for land bought ‘off the plan’ if it included a sunset clause and didn’t settle by the specified date.
Following changes to the Land Sales Act 1984, sellers can only use sunset clauses to terminate 'off the plan' land sales contracts:
- with the written consent of the buyer, or
- under an order of the Supreme Court.
These new laws apply to:
- existing 'off the plan' contracts for the sale of land that were signed but not settled by 22 November 2023; and
- new 'off the plan' contracts for the sale of land signed on or after 22 November 2023.