Schedule of unit entitlements – section 26ZV(4)
25 Schedule of unit entitlements – section 26ZV(4)
(1) A schedule of unit entitlements for units into which a building lot is further subdivided is to be prepared and certified by a valuer.
The schedule is to set out:
for each unit – the unit entitlement for that unit; and
the aggregate unit entitlement for all the units.
(3) The unit entitlement for each unit into which a building lot is further subdivided is a number (which need not be a whole number) that represents, as nearly as practicable, the proportion that the value of the unit bears to the aggregate value of all the units, where the value of each unit is established by reference to its unimproved capital value at the date of certification by the valuer.
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