s 167B
In forceDeclared land subleases—surrender of leases in units without grant of further leases
Part 12Lease variations and grants of further leases
Division 12.2Grants of further leases
167B Declared land subleases—surrender of leases in units without grant of further leases
(1)
This section applies if a units plan subdivides land under a declared land sublease.
(2)
The owners corporation may, on behalf of the unit owners, surrender the leases with the written consent of the Crown lessee.
Note If a lease is subject to a registered mortgage or encumbrance, the mortgagee or encumbrancee must also consent to the surrender (see Land Titles Act 1925, s 86 (7)).
(3)
If a lease is surrendered under subsection (2), the Land Titles Act 1925, section 88H (Surrender etc of land sublease—payment for improvements) applies.
Part 13 Expiry and termination of unit leases
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.