Residential developers beware: the sun has set on sunset clauses
The Sale of Land Act 1962 was amended on 4 June 2019. Included in those amendments are restrictions on the use of sunset clauses in certain off-the-plan contracts that will significantly impact residential developers. Sunset clauses are provisions in off-the-plan contracts that have typically allowed either the vendor or the purchaser to rescind an off-the-plan contract […]