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Has anyone managed to rescind from a LDA land contract??

By Hb1234 - 19 June 2012 23

I am trying to get out of a Land Development Agency contract though it isnt very easy!!

Can anyone advise?

What’s Your opinion?


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23 Responses to
Has anyone managed to rescind from a LDA land contract??
beardedclam 11:46 am 20 Jun 12

Maybe you should have spent some time reading your contract prior to signing it. If you couldnt understand the contents of that contract then you should have engaged a solicitor to act on your behalf. When I entered my ballot it was pretty clear and the LDA strongly advises to do so. It makes a huge difference if it is a Land Rent contract compared to a Standard purchase, it is all pointed out in the contract you signed.

HenryBG 11:30 am 20 Jun 12

bigfeet said :

HenryBG said :

Makes you wonder why they bother with contracts at all, if they let slack-arses just dip out on a whim like that.

Typical ACT Government incompetence.

I agree . It’s just like the contract citizens make with society. You know, the contract that a member of that society can enjoy all the benefits it provides, and in return all they need do is serve on a jury when required. Probably only once in their life.

It would take a pretty despicable citizen to try to break that contract.

I’m not aware of any such contract. When did I sign it?

VYBerlinaV8_is_back 9:27 am 20 Jun 12

bigfeet said :

HenryBG said :

Makes you wonder why they bother with contracts at all, if they let slack-arses just dip out on a whim like that.

Typical ACT Government incompetence.

I agree . It’s just like the contract citizens make with society. You know, the contract that a member of that society can enjoy all the benefits it provides, and in return all they need do is serve on a jury when required. Probably only once in their life.

Plus pay tax…

bigfeet 7:56 am 20 Jun 12

HenryBG said :

Makes you wonder why they bother with contracts at all, if they let slack-arses just dip out on a whim like that.

Typical ACT Government incompetence.

I agree . It’s just like the contract citizens make with society. You know, the contract that a member of that society can enjoy all the benefits it provides, and in return all they need do is serve on a jury when required. Probably only once in their life.

It would take a pretty despicable citizen to try to break that contract.

HenryBG 12:04 am 20 Jun 12

Makes you wonder why they bother with contracts at all, if they let slack-arses just dip out on a whim like that.

Typical ACT Government incompetence.

Holden Caulfield 11:13 pm 19 Jun 12

heather92 said :

yes though life is life, things happen

please only helpful comments!

Call your solicitor.

If you don’t want comments from the peanut gallery, don’t ask them.

mickey 10:34 pm 19 Jun 12

Yes we did rescind, back in January for a block (land rent). Our solicitor did the paperwork, sent the letter to LDA requesting we be allowed to rescind as we could not settle due to financial constraints. He also then followed up with the paperwork to Revenue to get the stamp duty back.
It is still upto the LDA to accept though.

woodman 8:30 pm 19 Jun 12

Bbbbbn

woodman 8:29 pm 19 Jun 12

Yep. Did it just last week. Just wrote a email to the solicitors saying we couldn’t afford to settle (was land rent) and they sent through the stat decs to sign to say we weren’t rescinding so someone else could get it. Now I just need to get into revenue to get our stamp duty back.

Was it land rent or full transfer?

At the end of the day if you can’t afford to settle I can’t see why they wouldn’t rescind?

May I ask what suburb? Then I can work out if it is the same law firm.

rosscoact 6:34 pm 19 Jun 12

heather92 said :

yes though life is life, things happen

please only helpful comments!

I was trying to be helpful. Sorry if telling the truth is perceived as being unhelpful.

There is more than one example where big players have defaulted on a contract and lost their dough. You may be lucky or you may just waste your money trying to wriggle out of a contract.

HenryBG is correct.

You can probably also seek permission from the Minister to deal in the lease through hardship provisions if you can prove it

HenryBG 4:57 pm 19 Jun 12

Your cheapest option is to novate the agreement: find a replacement buyer and have your existing contract novated into their name.
You should be up for the cost of hiring a lawyer to draw up a Deed of Novation as well as the cost of the Seller’s solicitor’s time to advise his client, check the Deed and have it executed. Better than defaulting.

greyswandir 4:29 pm 19 Jun 12

greyswandir said :

Prob best to see a lawyer. They’ll be able to analyse the actual contract and tell you if there are any escape clauses/legislation that applies to help you out.

Of course you do run the risk of getting a terrible lawyer who comes up with nothing and charges you through the nose for it. WHAT A FUN CHOICE.

greyswandir 4:22 pm 19 Jun 12

Prob best to see a lawyer. They’ll be able to analyse the actual contract and tell you if there are any escape clauses/legislation that applies to help you out.

heather92 3:59 pm 19 Jun 12

yes though life is life, things happen

please only helpful comments!

rosscoact 3:39 pm 19 Jun 12

contract is a contract, they will enforce it

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