26VDamage for failure of developer

26V Damage for failure of developer (1) Where a developer fails to comply with a disclosure statement or complete an estate development in accordance with the disclosure statement, the proprietor of a lot, or a person who has contracted with the developer to purchase a proposed lot in the estate development may, in addition to any other right at law or in equity he may have, sue for and recover such damages from the developer as the Tribunal thinks fit. (2) Without limiting the generality of subsection (1), the proprietor of a lot, or a person who has contracted with the developer to purchase a proposed lot, in the estate development shall be entitled to recover any expected loss of capital appreciation of his lot or proposed lot arising out of the failure, calculated to the date on which the estate development was to be completed in accordance with the disclosure statement. (3) The proprietor's consent to a variation of the statement does not prevent the proprietor from acting under this section in relation to the statement as in force before the variation. (4) This section has effect subject to any agreement between the proprietor and the developer.

Unit Titles Act 1975 35