Sale of strata apartments “off the plan”, i.e. before they are built, are common with new developments. In a rising market, purchasers are keen not to miss out or to lock in a price which they expect to be less than the value of the apartment when completed.
Sale of strata apartments “off the plan”, i.e. before they are built, has long been common with new developments. Developers typically require pre sales to satisfy lending requirements. Purchasers have historically been keen not to miss out or to lock in a price which they expect to be less than the value of the apartment when completed. However, in the current market, purchasers may have lost that enthusiasm and be looking to a way out of the contract.
Question: Are developers required to seek consent from adjoining owners prior to operating cranes over your property?
Answer: The land owner of a non-strata title building or the owners corporation of a strata title building will normally own the air-space that a crane would swing through and their consent is required.
PLANNING LAW REFORMS
A major overhaul of the Environmental Planning & Assessment Act 1979 is underway, via the Environmental Planning & Assessment Amendment Act 2017. Most of the changes commence on 1 March 2018, but a number require further consultation and development and will be phased in over time. The NSW Department of Planning & Environment (“DPE”) has information online about when various provisions are expected to commence. Please click here for further information.
Amendments to the Land Acquisition (Just Terms Compensation) Act 1991 (“Act”), which commenced on 1 March 2017, give owners some significant new rights.
‘Collective Sale’ has been a property buzzword in 2016 – state and local government zoning changes, together with the changes that the Strata Schemes Development Act 2015 now bring, make collective sales a hot topic right now.
The Strata Schemes Development Act 2015 and the Strata Schemes Development Regulation 2016 commenced on 30 November 2016. One of the most important reforms effected by the act is the urban renewal mechanism contained in Part 10, which may permit the collective sale or redevelopment of strata schemes, without unanimous agreement of lot owners being required. We are already encountering developers and lot owners pushing forward with proposals, with a view to moving quickly when the act comes into force.
One of the most important reforms effected by the act is the urban renewal mechanism contained in Part 10, which may permit collective sale redevelopment of strata schemes, without unanimous agreement of lot owners being required. We are already encountering developers and lot owners pushing forward with proposals, with a view to moving quickly when the act comes into force.
The purchase of a home will probably be the most significant commitment to expenditure many of us will ever make. No sensible person enters into such a transaction without qualified legal advice and representation on the conveyance. And yet, when it comes to the construction or refurbishment of a home, owners all too often accept a building contractor’s terms without obtaining legal advice. Even where the price for the building work amounts to a six or seven figure sum the cost of an independent legal review of the proposed contract will routinely fall between $2,000 - $5,000; a cost effective and sensible precaution given the frequency with which construction work can go awry.
We explore below three of the significant recent developments in case law concerning building certification practices.
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