STRATA SCHEMES (FREEHOLD DEVELOPMENT) ACT 1973 - SECT 20 Body corporate to hold common property as agent for proprietors
This legislation has been repealed.
STRATA SCHEMES (FREEHOLD DEVELOPMENT) ACT 1973 - SECT 20
Body corporate to hold common property as agent for proprietors20 Body corporate to hold common property as agent for proprietors
The estate or interest of a body corporate in common property vested in it or acquired by it shall be held by the body corporate as agent:
(a) where the same person or persons is or are the proprietor or proprietors of all of the lots the subject of the strata scheme concerned--for that proprietor or those proprietors, or
(b) where different persons are proprietors of each of two or more of the lots the subject of the strata scheme concerned--for those proprietors as tenants in common in shares proportional to the unit entitlements of their respective lots.