Description:
Contracts & Covenants
Presented by: Tony Cahill
In January 2025 ORG issued a discussion paper entitled "Contracts and Covenants". The paper considered a number of problems (and some potential solutions) in two broad practice areas
- * Residential off the plan sales
- * The proliferation of obsolete covenants on title, and what might be done to deal with them.
In this session Tony Cahill will discuss the suggestions in the paper, and how they provide pathways for dealing with problems today which can arise in off the plan purchases in particular.
Some of the topics will include
- * "Traps" and "gaps" in the current OTP regulatory framework.
- * What are the key progress points in a development of which purchasers off the plan should be informed?
- * Striking the right balance between vendor and purchaser on sunset dates
- * Should sunset dates be capable of multiple (or even infinite!) extension?
- * Should there be some notification on title that land is in the course of being subdivided - and the problems implicit in OTP purchaser's caveats
- * Should some types of newly created covenants have a default duration?
- * Should some categories of covenant be able to be removed administratively beyond the current trinity
- * The effect of s3.16 Environmental Planning and Assessment Act 1979 on existing covenants.
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