(1) A common property rights by-law, while it remains in force, continues to
operate for the benefit of, and is binding on, the owner or owners for the
time being of the lot or lots specified in the by-law.
(2) If a person
becomes the owner of a lot when, under a by-law or under this subsection, a
former owner is liable to pay money to the owners corporation, the person who
becomes the owner is jointly and severally liable with the former owner to pay
the money to the owners corporation.