Acquisition of additional common property
42A Acquisition of additional common property
In this section, land means land held for an estate in fee simple.
A corporation may, if authorised by a resolution without dissent, accept a transfer or grant of land (not being a unit within the parcel) which is contiguous to the parcel but which is not subject to a mortgage, charge or writ, for the purpose of creating additional common property and, upon so doing, shall forthwith cause the dealing evidencing the transaction to be registered under the
Land Title Act 2000.
On the registration under the Land Title Act 2000 of a transfer or grant referred to in subsection (2):
the land comprised in the transfer or grant becomes common property and is subject to the provisions of this Act relating to common property; and
the Registrar-General shall make in the Register such recordings in relation to that land as he thinks fit.
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