Neither here nor there

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So, the unit I'm purchasing was held not by me or the seller: it was the developer. For some reasons, despite having received the strata title nearly a year ago, they haven't transferred it to the current (beneficial) owner. Hence, there are additional steps:

  • The developer had to confirm that the seller is the current beneficial owner of the unit.
  • The developer agreed to transfer the strata title directly to me, rather transfer it to the seller who the transfer to me. 

So, aside from the usual Sale & Purchase Agreement ("SPA"), there are additional documents: for developer to sign to effect to above while both the seller and I sign to indemnify the developer for any loss arising from them signing those documents.

Normally the 3-month timer where this transaction is due to be completed starts upon signing the SPA by both parties but in this case, it also conditioned upon signing of the relevant documents by the developer. The SPA outlines the consequences and options available if either party doesn't sign the document but not when developer doesn't sign theirs. It's not stated elsewhere either. I was concerned because they hadn't signed theirs after I had signed the SPA.

I twice asked my lawyer directly what happens if the developer hasn't signed after a considerable length of time e..g a year and what are my options to deal with that. Instead of answering, she tried to assure me by citing a past case where it was signed within a month. Hmph. I rather she answers my question.

Fortunately, the developer signed their documents recently. Phew. Now the 3-month timer starts.
 

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