Disposal of interest in common property
12 Disposal of interest in common property
If authorised by unanimous resolution, a body corporate may – sell or otherwise dispose of part of the common property; or grant or amend a lease over part of the common property.
A dealing to give effect to a transaction under this section may be registered only if accompanied by – a copy of the resolution authorising the transaction certified under the body corporate's common seal; and if the council's approval is required by law, a certificate issued under the authority of the council certifying that the transaction has been approved by the council; and if the transaction is for the sale or disposal of part of the common property which does not result in its removal from the scheme, an amendment to the plan showing the new boundaries; and if the transaction is for any other sale or disposal of part of the common property – where the common property is to be removed from the site, an amendment to the plan showing the new boundaries of the site; and a sealed plan under the Local Government (Building and Miscellaneous Provisions) Act 1993.
If the Recorder is satisfied that – the sale or disposal is by way of an adjustment of boundaries; and an amendment to the plan is not necessary in view of the information in it – the Recorder may, on application by a person interested in the transaction, dispense with the requirement to amend the plan.
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