101Compensation on resumption of association or common property

101 Compensation on resumption of association or common property

101 Compensation on resumption of association or common property

(1) Only the association or strata corporation in which association property or common property is vested may claim and be awarded compensation for the resumption of the property.

(2) Subsection (1) has effect as if—

(a) the beneficial interests of the members in the property were vested in the association or strata corporation, and

(b) any compensation paid is held by the association or strata corporation in trust for the members according to their beneficial interests immediately before the resumption.