Strata Schemes Development Act 2015

This section applies if the court makes an order giving effect to a strata renewal plan for a redevelopment of a strata scheme.

Each dissenting owner of a lot in the strata scheme must sell the owner’s lot in accordance with the strata renewal plan and the order.

The strata scheme is terminated on the day stated in the order for that purpose.

On termination of the strata scheme—

the owners corporation is dissolved, and

the rights and liabilities of the owners corporation vest in the developer or the former owners in accordance with the strata renewal plan and the order, and

land in the former parcel vests in the former owners as tenants in common in shares proportional to the unit entitlement of their former lots, unless the strata renewal plan otherwise provides, and

any legal proceedings begun by or against the owners corporation may be completed by or against the developer, and

the developer must give the Registrar-General notice of the termination in the approved form.

On receiving the notice, the Registrar-General must—

cancel the folios for the lots and common property in the strata scheme, and

create a folio for the land in the former parcel, and

record in the Register the matters the Registrar-General considers appropriate to give effect to the order.

The order does not permit development to be carried out in contravention of this Act or any other Act or law.

A lease of a lot in the strata scheme is terminated on the day stated in the strata renewal plan for giving vacant possession of the lot to the developer or on such later day as may be specified in the order.

Subject to this Part, the termination of a lease under this section does not affect a right or remedy a person may have under the lease.

In this section—