Victorian Consolidated Legislation

Subdivision Act 1988 - SECT 30

Vesting of common property

30. Vesting of common property



(1) In addition to section 24, when a plan containing common property is
registered-

   (a)  any common property affected by an unlimited owners corporation vests
        in the owners for the time being of the lots affected by the unlimited
        owners corporation as tenants in common in shares proportional to
        their lot entitlement; and

   (b)  subject to paragraph (c), any common property affected by a limited
        owners corporation vests in the owners for the time being of the lots
        affected by the relevant unlimited owners corporation as tenants in
        common in shares proportional to their lot entitlement; and

   (c)  any common property affected by a limited owners corporation vests in
        the owners for the time being of the lots affected by the limited
        owners corporation, if there is no unlimited owners corporation
        affecting those lots.

(2) In subsection (1), relevant unlimited owners corporation means the
unlimited owners corporation affecting the lots affected by the limited owners
corporation.