Cancellation of a strata plan

There are several ways in which a Strata Plan may be cancelled:

 

On cancellation:

  • 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.

Cancellation of a strata plan  :  Last Revised: Fri Mar 27th 2009
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