Conversion of units into building lots
26ZU Conversion of units into building lots
The owners of units to which a units plan relates may lodge with the Registrar-General a building development plan to convert all of the units to which the units plan relates into building lots.
An application under subsection (1) cannot be made unless the written consent of all of the owners of the units to which a units plan relates has been obtained.
Subject to subsection (4), sections 26ZI to 26ZT (inclusive) apply in respect of a building development plan lodged under subsection (1).
The Regulations may vary the application of a section referred to in subsection (3) and the section as varied applies accordingly.
On the Registrar-General registering a building development plan lodged under subsection (1):
the body corporate for the units is taken to be a body corporate constituted under section 28; and
the units become building lots (that may be further subdivided in accordance with section 26ZV); and
the management rules applying to building lots apply to the exclusion of any other management rules (except that decisions made before the conversion are to be taken to have been made under the management provisions applying to the building units).
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