The thesis will examine the development of legislation in Victoria controlling the practice of pre-selling real estate. Attention will be paid to the problems associated with uncontrolled pre-selling which became evident in the period 1960 - 1962. The effectiveness of the Sale of Land Act 1962 in dealing with pre-selling will be considered.
Controls on pre-selling as are now contained in the Sale of Land Act 1962, the Strata Titles Act 1967, the Cluster Titles Act 1974 and which may be contained in the Companies (Victoria) Code 1981 will be analysed.
The general contention of this thesis is that properly regulated pre-selling can play an important role in ensuring a more orderly and efficient property development industry. The present legislative controls are unduly restrictive and have only led property developers to seek artificial means of avoiding the controls and the present means of avoiding legislative restrictions will be considered at length.
The thesis will conclude with a call for reform of legislation relating to the pre-selling of real estate and make suggestions of some considerations which should be taken into account when implementing legislative reform.