Victorian Consolidated Legislation

Subdivision Act 1988 - SECT 32AL

Registration of plan of consolidation

32AL. Registration of plan of consolidation



(1) On the registration of a plan of consolidation of all the land affected by
an owners corporation into a single lot-

   (a)  that owners corporation is dissolved; and

   (b)  if the land is also land affected by another owners corporation, that
        other owners corporation is dissolved; and

   (c)  the land vests in the former lot owners who are members of the owners
        corporation exercising the power, as tenants in common in proportion
        to their lot entitlements in that owners corporation, freed from any
        caveat, mortgage, charge, lease, sub-lease and from any easement under
        section 12; and

   (d)  the Registrar must create a folio of the Register accordingly.

(2) The Registrar must not register a plan referred to in subsection (1)
unless satisfied that the owners corporation on the registered plan has no
accrued or accruing debts.

Division 4-General provisions relating to plans