New South Wales Consolidated Acts New South Wales Consolidated Acts(1973 Act, s 18)
(1) Where common property is created by the registration of:(a) a strata plan,(b) a strata plan of subdivision, or(c) a notice of conversion,the common property is freed and discharged from any mortgage, charge, covenant charge, writ or caveat which, before registration of that plan or notice, affected the land comprising the common property, or affected any lease of that land.
(2) Nothing in subsection (1) affects any right or remedy that may be exercised otherwise than in relation to common property by a person who is a mortgagee, chargee, covenant chargee, judgment creditor or caveator, even though the person may have signed or consented to the registration of the plan or signed the notice creating the common property.