(1) The Registrar of
Titles may direct that the procedure provided for by this regulation (the
simplified conversion procedure ) is to apply to the conversion of a tenancy
in common to a strata titles scheme, instead of the usual procedure that, but
for that direction, would apply.
(2) The simplified
conversion procedure is as follows —
(a) an
application for conversion to a strata titles scheme must be made to the
Registrar of Titles as an application for registration of the strata titles
scheme under section 56;
(b) the
application must be signed by all the owners of the land the subject of the
application;
(c) the
application must identify the type of strata titles scheme to be created, that
is, whether it is a strata scheme or survey‑strata scheme and whether it
is a freehold scheme or leasehold scheme;
(d) the
application must be accompanied by a disposition statement that is signed by
all the owners of the land the subject of the application and complies with
the requirements of these regulations in relation to disposition statements;
(e) if
the scheme to be created is a leasehold scheme, the disposition statement must
also direct the Registrar of Titles to endorse the certificate of title for
the parcel in accordance with section 57(2)(b).
(3) To avoid doubt, an
owner of land who is a mortgagee in possession or the owner of a life estate
can apply for a conversion under this regulation.
(4) If an application
is made by the owner of a life estate in land, the owner in remainder must
also consent to the application.
(5) If the Registrar
of Titles is satisfied that the simplified conversion procedure has been
complied with, the Registrar of Titles must register the strata titles scheme
in accordance with section 58.