28Transfer of association property

28 Transfer of association property

28 Transfer of association property

(1) An association may transfer land forming part of its association property if—

(a) the land is not all of its association property, and

(b) the land is not held by it on lease, and

(c) the land is shown as a lot in a plan lodged for registration as a current plan, and

(d) the transfer is registered under the Real Property Act 1900.

(2) The transfer—

(a) must be accompanied by a replacement sheet for the association property plan showing the altered boundaries of the association property, and

(b) must be accompanied by a certificate (an association certificate) in the approved form, and

(c) must not be registered unless—

(i) the initial period has expired, or

(ii) the transfer has been authorised by the Tribunal.

(3) The association certificate must be under the seal of the association and be to the effect that—

(a) execution of the transfer was authorised by special resolution, and

(b) any interest in the land has been released if—

(i) the transfer has not been made subject to the interest, and

(ii) the interest is not a statutory interest or an interest recorded in the Register, and

(iii) the association has notice of the interest, and

(c) any by-law restricting the use of the association property no longer affects the interest passing under the transfer.

(4) Land transferred under this section ceases to be association property.