New South Wales Consolidated Acts

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STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 44

Further leases of lots and common property

44 Further leases of lots and common property

(1) Subject to subsection (4) and section 122 of the Conveyancing Act 1919 , the lessor of a leasehold strata scheme may grant further leases of a lot in the scheme, including a further lease to the lessor, at any time before the scheme is terminated.
(2) If a lease is granted under subsection (1) to commence when the lease of the common property expires, the lessor must also grant a further lease of the common property to the owners corporation.
(3) Subsection (4) applies if, in relation to a leasehold strata scheme:
(a) the owners of lots the sum of whose unit entitlements is at least four-fifths of the aggregate unit entitlement and the owners corporation have, at least 6 months before the expiration of the terms of the leases, given written notice in accordance with subsection (5) to the lessor of their intention to exercise their rights to renew their leases, and
(b) the right to a further lease containing specified provisions has been granted, in writing signed by the lessor, to the owners and owners corporation by the lessor.
(4) The lessor must, at least 3 months before the terms of the leases expire, grant:
(a) further leases of the lots to the owners, and
(b) a further lease of the common property to the owners corporation.
Note : However, see section 45 for when a lessor may refuse to grant a further lease.
(5) The notice referred to in subsection (3) (a) must be accompanied by a lease, for execution by the lessor, in the approved form and contain the specified provisions referred to in subsection (3) (b).
(6) The terms of all leases granted under this section in relation to a parcel, other than a further lease that commences during the term of another lease of the lot or the common property and that is expressed to expire at the same time as the other lease, must:
(a) commence at the expiration of the terms of the leases they are intended to replace, and
(b) expire at the same time.
(7) If a lease granted under this section confers on the owner a right of renewal, the renewal term must be the same as that to which each other owner of a lot in the strata scheme is entitled.
(8) The lessor of the strata scheme may execute a further lease of common property in the scheme as agent for the owners corporation, unless the lease is granted under subsection (4).
(9) A right to a further lease of a lot or common property may not be exercised otherwise than in accordance with this section.



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