Unit Titles Act 1975

(a) the person who was the proprietor of the parcel becomes possessed of an estate in fee simple in each building lot; and

(b) the corporation becomes possessed of an estate in fee simple in the common property.

(2) On the registration of a building development plan creating common property, the corporation becomes possessed of an estate or interest evidenced by the certificate as to title comprising the land the subject of the building development plan freed and discharged from all mortgages, charges, writs and caveats affecting the land immediately before the registration of the plan.

(3) On the registration of a notice of conversion, the corporation becomes possessed of the estate or interest in any building lot converted into common property evidenced by the certificate as to title comprising the land the subject of the notice.

(4) Subject to subsections (2) and (3), the estate of which a person or the corporation, as the case may be, becomes possessed under this section:

(a) is subject to any mortgage to which section 8 of the Real Property (Unit Titles) Act 1975 relates; and

(b) is subject to, and has appurtenant to it, the easements created by section 25 and any easement referred to in section 8 of Real Property (Unit Titles) Act 1975.