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BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 26
Disposition on extinguishment of plan
26 Disposition on extinguishment of plan
(1) Upon a resolution by the body corporate pursuant to section 25 (1) (a) (i)
or an order of the Court pursuant to section 25 (1) (a) (ii) and, in the case
of a group titles plan, the obtaining of the approval of the local government
to the proposed extinguishment, the body corporate shall forthwith lodge with
the land registry— (a) a notification of the proposed extinguishment in the
approved form; and
(b) in the case of a group titles plan—the certificate
of the local government that the requirements of the local government have
been complied with, together with any plan of subdivision under the
Land Title Act 1994 approved by the local government and required by the local
government pursuant to section 25 (3) (b) .
(2) Upon receipt of the
notification referred to in subsection (1) together with any other documents
required to be lodged by that subsection, the registrar of titles shall record
the particulars thereof in the register in the manner prescribed.
(3) Upon
the entry in pursuance of subsection (2) the proprietors shall be entitled to
the land comprised in the extinguished plan as tenants in common— (a) in the
case of a building units plan—in shares proportional to the lot entitlements
of their respective lots; or
(b) in the case of a group titles plan—in such
shares as the proprietors by unanimous resolution may resolve or as the Court
may order having regard to the rights and interests of the proprietors as a
whole upon an application made to the Court by any person specified in
section 25 (8) .
(4) Upon a resolution by the body corporate pursuant to
section 25 (1) (a) (i) or an order of the Court pursuant to section 25 (1) (a)
(ii) and, in the case of a group titles plan, the obtaining of the approval of
the local government to the proposed extinguishment, the body corporate by
unanimous resolution may transfer the land comprised in the plan or any part
or parts thereof.
(5) The body corporate, if it is satisfied that all persons
having registered interests in the parcel and all other persons having
interests (other than statutory interests) which have been notified to the
body corporate have consented in writing to the release of those interests in
respect of the land comprised in the proposed disposition, shall execute the
appropriate memorandum of transfer and the memorandum of transfer shall be
valid and effective without execution by any person having an interest in the
parcel and the receipt of the body corporate for any moneys payable to the
body corporate under the terms of the memorandum of transfer shall be a
sufficient discharge, and shall exonerate the persons taking under the
memorandum of transfer from any responsibility for the application of the
moneys expressed to have been so received.
(6) Every memorandum of transfer
executed pursuant to subsection (5) and lodged for registration shall be
endorsed with or accompanied by a certificate under the seal of the
body corporate that the resolution was duly passed and that all necessary
consents were given.
(7) In favour of purchasers of the land comprised in the
extinguished plan and in favour of the registrar of titles, the certificate
shall be conclusive evidence of the facts stated therein.
(8) Upon lodgement
for registration of a memorandum of transfer of land comprised in an
extinguished plan by the body corporate pursuant to this section, the
registrar of titles shall, before issuing a certificate of title, make the
recordings prescribed by subsection (2) .
(9) Where land is transferred by
the body corporate pursuant to this section— (a) the proprietors shall
surrender to the land registry their certificates of title for cancellation;
and
(b) the registrar of titles shall cancel the certificates of title
relating to the lots and, after registering the memorandum of transfer, issue
to the transferee a certificate of title for the land transferred and;
where
part only of the land comprised in the extinguished plan is transferred, issue
to the proprietors as tenants in common in the shares determined pursuant to
subsection (3) a certificate of title for that part of the land that was not
transferred.
(10) Where no resolution is made in accordance with subsection
(4) the registrar of titles shall, after cancelling all certificates of title
relating to the lots and recording the extinguishment of the plan in the
register, issue to the proprietors as tenants in common in the shares
determined pursuant to subsection (3) a certificate of title under the
Land Title Act 1994 for the land comprised in the extinguished plan.
(11) The
person who is the proprietor of a lot immediately prior to the extinguishment
of a plan shall continue after extinguishment to be liable for any rate or
charge made and levied by a local government before extinguishment in respect
of that lot.
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