Part 3Subdivided land

Part 3—Subdivided land 18—Obligations and offences in relation to subdivided land (1) A person who, in order to induce another person (the prospective purchaser) to purchase subdivided land states— (a) that the person or some other person will buy at a profit to be received by the prospective purchaser other land or a chattel then owned by the prospective purchaser; or (b) that the person or some other person will at some future time obtain for the prospective purchaser a profit on the subdivided land or part of it, Maximum penalty: $5 000 or imprisonment for 1 year. (2) A contract for the sale of subdivided land or an interest in subdivided land is (except where the sale is by public auction) voidable at the option of the purchaser at any time within six months after the making of the contract unless the contract— (a) is in writing; and (b) contains the following particulars: (i) the name, address and description of the vendor; (ii) the name, address and description of the person who is, at the time when the contract is made, the owner of the land or interest; (iii) the allotment number of the land and the name (if any) of the subdivision, or other information sufficient to enable the land to be readily identified; (iv) the name, address and description of some person to whom all money falling due under the contract may be paid towards satisfaction of the contractual liability. (3) A purchaser will not be taken to have elected to affirm a contract that is voidable under this section by reason of a payment made under the contract. (4) Where a contract that is voidable under this section is avoided, the purchaser may recover the money paid under the contract. 19—Inducement to buy subdivided land If a person is induced— (a) to enter into a contract to purchase subdivided land; or (b) to affirm a contract to purchase subdivided land that is voidable by that person, by unreasonable or undue persuasion on the part of the vendor, or a person appearing to act on behalf of the vendor, then, according to the nature of the case— (c) the contract will be taken to have been induced by undue influence and will be voidable at the option of the person induced to enter it; or (d) the affirmation will be void and of no effect.