There are several ways in which a Strata Plan may be cancelled:
- the assets and liabilities attach to the former owners
- the corporation and the articles are dissolved
- the land vests in the former registered proprietors of the units in shares fixed by reference to unit entitlements of their respective unit.
It is suggested that legal advice be sought before taking the step of cancellation.
The content of the Law Handbook is made available as a public service for information purposes only and should not be relied upon as a substitute for legal advice. See Disclaimer for details. For free and confidential legal advice in South Australia call 1300 366 424.