(1) Any person disposing of land to a purchaser, or the solicitor or other agent of such a person, who with intent to defraud -

(a) conceals from the purchaser any instrument or incumbrance material to the title, or

(b) falsifies any information or matter on which the title may depend in order to induce the purchaser to accept the title offered or produced,

is guilty of an offence under this Act.

(2) Any such person or the person's solicitor or agent is also liable to an action for damages by the purchaser, or persons deriving title under the purchaser, for any loss sustained by reason of -

(a) the concealment of the instrument or incumbrance, or

(b) any claim made by a person whose title to the land was concealed by such falsification.

(3) In estimating damages, where the land is recovered from the purchaser or persons deriving title under the purchaser, regard shall be had to any expenditure by them on improving the land.