29Implied term in contract for sale of lot

29 Implied term in contract for sale of lot (1) Until the development of a community title scheme is finished, the developer of the scheme warrants to a person who purchases a lot or a proposed lot of scheme land, or who is a prospective owner of a lot or a proposed lot of scheme land, that the development will be carried out in accordance with the scheme. (2) A warranty under subsection (1)— (a) is enforceable in the same way as a contractual warranty; and (b) cannot be limited or excluded by contract.

Section 29 page 22 Community Title Act 2001 (3) Without limiting the damages recoverable for breach of the statutory warranty, the owner or prospective owner of a lot may recover damages for the loss of a reasonably expected capital appreciation of the lot that would have resulted from completion of the development in accordance with the terms of the community title scheme.

Establishment of bodies corporate Division 8.1 Section 30