Land Sales Act 1984

This section applies if the contract for the sale of a proposed lot has not been settled and—

the seller becomes aware that information in the disclosure plan was inaccurate as at the day the contract was entered into; or

the disclosure plan would not be accurate if now given as a disclosure plan.

The seller must, at least 21 days before the contract is settled, give the buyer a further document (the further statement)—

rectifying the information in the disclosure plan; and

explaining, in plain English, the differences between the information in the disclosure plan and the information in the further statement.

Example—The depth of fill required for the lot has changed from that disclosed in the disclosure plan. The further statement must rectify the information by indicating the new depth of fill and explain, in plain English, that the depth of fill has changed and identify what the new depth of fill is.

The further statement must be—

signed by the seller; and

prepared by a cadastral surveyor.

The buyer may terminate the contract if—

it has not already been settled; and

the buyer would be materially prejudiced, if compelled to complete the contract, given the extent to which the disclosure plan was, or has become, inaccurate; and

the termination is effected by written notice given to the seller within 21 days, or a longer period agreed between the buyer and seller, after the seller gives the buyer the further statement.

Subsections (1) to (4) continue to apply after the further statement is given on the basis that the disclosure plan is taken to be constituted by the disclosure plan and any further statement.

If the seller fails to comply with this section, the buyer may terminate the contract by written notice given to the seller if—

the contract has not already been settled; and

the buyer would be materially prejudiced, if compelled to complete the contract, given the extent to which the disclosure statement was, or has become, inaccurate.