98
In forceLiability of part-owners
Part 5Financial management
Division 5.3Powers in relation to money owing to owners corporation
98 Liability of part-owners
(1)
This section applies if—
(a)
a unit is owned by 2 or more part-owners; and
(b)
an amount is recoverable by the owners corporation from the owners.
(2)
The part-owners are liable separately and together for the payment of the amount.
(3)
As between themselves, each part-owner is liable for a part of the amount proportional to the value of the part-owner’s interest in the unit.
(4)
If a part-owner pays a part of the amount that is more than the part‑owner’s proportional liability, the part-owner may recover the excess from the other part-owners.
This Act’s bill:Explanatory statementSecond reading speech
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