Damage for failure etc. of developer
26ZO Damage for failure etc. of developer
If a developer fails to comply with a disclosure statement or to complete a building development in accordance with the disclosure statement, the proprietor of a building lot, a person who has contracted with the developer to purchase a proposed building lot in the building development or the owner of a unit within the building lot may, in addition to any other right that he or she may have at law or in equity, sue for and recover damages from the developer that the Tribunal thinks fit.
Without limiting subsection (1), the proprietor of a building lot, a person who has contracted with the developer to purchase a proposed building lot or the owner of a unit within the building lot in the building development is entitled to recover any expected loss of capital appreciation of his or her building lot, proposed building lot or unit arising out of the failure (calculated to the date on which the building development was to be completed in accordance with the disclosure statement).
Division 4 Effect of registration of building development plan
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