New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 18

18 Effect of conversion of lots in leasehold strata scheme

On the registration of a notice of conversion for a leasehold strata scheme--

(a) the lease of a lot converted into common property is determined, and

(b) the lot vests in the owners corporation as lessee for the remainder of the term specified in the lease of the common property.