s 28
In forceEffect of cancellation
Part 2Strata schemes
Division 8Cancellation of plan
28 Effect of cancellation
On cancellation of the strata plan –
the site vests in the former owners of the lots, as tenants in common, in shares proportional to the respective unit entitlements of their lots; and the body corporate is dissolved and any outstanding rights and liabilities attach to the owners in shares proportional to the respective unit entitlements of their lots; and any mortgage or other encumbrance registered over a lot attaches to the interest of the former owner of the lot in the site.
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