Queensland residents draws to the attention of the House a legal loophole which allows developers, who are selling off the plan, the ability to deliberately delay progression of the development to enact sunset clauses for financial gain. This loophole allows developers to renege on contracts that were signed before steep increases in property values.

Your petitioners are seeking changes to legislation similar to that which has occurred in 2015 to the NSW Conveyancing Act. These, court tested, changes protect both the purchaser who needs to provide consent in writing to the rescission of a contract and the developer who can obtain an order from the Supreme Court to rescind the contract.

Your petitioners, therefore, request the House to make similar legislative protections as a matter of urgency.