66ZLDefinitions

66ZL Definitions

66ZL Definitions

(1) In this Division—

deposit includes an amount paid by the purchaser in relation to the purchase price of a residential lot.

disclosure statement has the meaning given by section 66ZM.

material particular includes, but is not limited to, the following—

(a) a change to the draft plan that will, or is likely to, adversely affect the use or enjoyment of the subject lot,

(b) a provision of draft by-laws that will, or is likely to, adversely affect the use or enjoyment of the subject lot,

(c) an easement or covenant that will, or is likely to, adversely affect the use or enjoyment of the subject lot,

(d) changes to the schedule of finishes that will, or are likely to, adversely affect the use or enjoyment of the subject lot,

(e) any other matter prescribed by the regulations,

but does not include matter excluded by the regulations.

off the plan contract means a contract for the sale of a residential lot (the subject lot) that has not been created at the time the contract is entered into.

purchaser, solicitor and vendor have the same meanings as in Division 8.

residential lot means a lot (whether a strata lot or otherwise) that is residential property within the meaning of section 66Q.

(2) For the purposes of the definition of off the plan contract, a lot is created when the plan creating the lot becomes a registered plan.

s 66ZL: Ins 2015 No 62, Sch 1 [2]. Subst 2018 No 75, Sch 1[15].