❓ A parliamentary question addresses penalties for failing to build on LandCorp lots in Broome within 30 months, focusing on discretion, enforcement, and resale conditions. The Minister's response clarifies LandCorp's re-acquisition options, hardship considerations, and resale processes.
AnsweredQoN 271Legislative Council
QuestionView source ↗
JANUBURU SIX SEASONS DEVELOPMENT, BROOME - LANDCORP BLOCKS
I refer to the requirement for purchasers of lots in LandCorp’s Januburu Six Seasons estate in Broome to build within 30 months of settlement. (1) What penalties will apply if purchasers do not satisfy this requirement? (2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA
I refer to the requirement for purchasers of lots in LandCorp’s Januburu Six Seasons estate in Broome to build within 30 months of settlement. (1) What penalties will apply if purchasers do not satisfy this requirement? (2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA
AnswerView source ↗
I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(1) What penalties will apply if purchasers do not satisfy this requirement? (2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(1) What penalties will apply if purchasers do not satisfy this requirement? (2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(2) Who will determine whether those penalties are to be applied? (3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(3) Will there be any discretion in the application of penalties; and if so, what circumstances will be considered under that discretion? (4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(4) If those penalties include delinquent purchasers having to relinquish their lots, how soon will those lots be available for purchase by other buyers, how will those lots be marketed and will the price of those lots remain unchanged? Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
Hon ADELE FARINA replied: I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
I thank the honourable member for some notice of the question. (1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(1) LandCorp has the option in the contract of sale to re-acquire the property at the original purchase price, less cost. (2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(2) The requirement to build within 30 months is a contractual obligation. If LandCorp assesses that the contractual obligations have been breached, it will enforce its option rights. If the matter is disputed, it will be determined by the courts. (3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(3) Individual cases of hardship will be reviewed on a case-by-case basis, consistent with social responsibility. However, equity demands that these conditions are enforced for the integrity of the process and to provide fairness to all people seeking land in Broome. These measures are in the community interest as they stop speculation and land banking. (4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
(4) It is expected that land will be returned to the market once legal requirements of re-acquisition have been met at the prevailing market price at the time.
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