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Off the plan sales and amendments to the plan of subdivision
On 3 May 2013, the Supreme Court of Victoria handed down its decision in Lockwood v PSP Investments Pty Ltd [2013] VSC 10 (Lockwood).
This decision considers a critical issue in off the plan developments – what amendments can be made to a proposed plan of subdivision between the time that a contract is entered into and registration of the plan of subdivision, without giving a purchaser a right to terminate their contract?