I purchased a new apartment four years ago. Unfortunately, the development was subsequently abandoned a year later. A new developer has taken over the project. However, they have requested for us to waive our entitlement to claim of late delivery damages. Five months have elapsed since the due delivery date. Should I waive my entitlement? What recourse do I have?
Chris Tan of Chur Associates answers: When the new developer took over the project, you should consider what is the basis of the take over. Did you execute a new set of documents to waive certain rights at the material time? If you didn't sign anything during the take over, your recourse is with the previous developer. If you have executed a fresh set of documents with the new developer, then your recourse is with the new developer subject to the terms and conditions of the new agreement.
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