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  • Profile photo of debexdebex
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    @debex
    Join Date: 2009
    Post Count: 7
    October 28, 2009 - 10:12 am
    mattnz wrote:
    I'm not an expert, but if there was nothing in writing stating that if you didn't exercise your option to buy, that the owner would pay your costs, I don't think you have a case. It would be like entering into a long settlement contract to buy an old run down house, spending money to improve the value of it, but if you never settled, you would have no recourse to claim for the improvements. There was an opportunity to take advantage of your option to purchase and make money on it, just by lining up another buyer to settle on the same day that you had to. You missed that window of opportunity.

    mattnz, I'm no expert either and I can see your point but I go back to my previous "theory" in my obtaining of the D.A. the vendor's price is justified but if I don't settle then should the vendor not be required to obtain their own D.A. approval to justify the price they are asking?

    Profile photo of debexdebex
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    @debex
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    October 28, 2009 - 8:40 am
    mattnz wrote:
    What are you hoping to get out of it, if you don't own the land? Are you just trying to stop the owner doing what you had planned to do?

    Hi Mattnz,

    I would at least like to be able to sell the D.A. and recoup some of the costs incurred. It was an expensive exercise and the contract was only exchanged at the agreed price because without an approval the site wasn't worth anywhere near as much.

    Profile photo of debexdebex
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    @debex
    Join Date: 2009
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    October 28, 2009 - 8:09 am
    debex wrote:
    Terryw wrote:
    or maybe the copyright to the plans would remain with the draftsman.

     
    Thanks again Terry. I appreciate your views, but as you can see there seems to be a gazillion opinions but no legal ruling as such. It's very confusing.

    Regards, Debex

    P.S.    This is a land subdivision. Sorry I didn't mention it.

    Profile photo of debexdebex
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    @debex
    Join Date: 2009
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    October 28, 2009 - 8:06 am
    Terryw wrote:
    or maybe the copyright to the plans would remain with the draftsman.

     
    Thanks again Terry. I appreciate your views, but as you can see there seems to be a gazillion opinions but no legal ruling as such. It's very confusing.

    Regards, Debex

    Profile photo of debexdebex
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    @debex
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    October 28, 2009 - 7:31 am
    Scott No Mates wrote:
    I'd agree with Terry, the vendor has signed the DA, the DA relates to a specific site and cannot be separated  from that site. As you have done the hard work, it is your risk that if you can't settle you don't get any benefit (unless you have a claw-back clause
    [
    /quote]
    Thanks Scott No Mates. I would like to know if there is a particular precedent in regard to my dilemma. 
    Profile photo of debexdebex
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    @debex
    Join Date: 2009
    Post Count: 7
    October 28, 2009 - 7:27 am
    Terryw wrote:
    I think it belongs with the land. So the new owner will be able to proceed with it. But, you may retain the copyright to any specific plans or designs etc.
    [/T

    Thanks Terry, but I am still not convinced due to lack of a signed agreement attached to the contract of sale. 

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