91Recording termination of scheme

91 Recording termination of scheme (1) If the request to record the termination of the scheme complies with this Act and with any order of the Supreme Court, the registrar-general must record the termination of the scheme and must also— (a) place a statement of the termination of the scheme in the folio of the land titles register for each lot that was included in the scheme; and (b) cancel the particulars (other than particulars of easements, covenants and other dealings that can be maintained against scheme land after the termination of the scheme) recorded in the land titles register. (2) The termination takes effect when the registrar-general completes the action mentioned in subsection (1). (3) On the termination of the scheme, the registrar-general must create a single title for a lot consisting of all the land that, immediately before the termination, was scheme land. (4) The registered owners for the title mentioned in subsection (3) are the people who, immediately before the scheme’s termination, were the owners of the lots included in the scheme (the former owners). (5) For subsection (4), the former owners must be recorded as tenants in common in shares proportionate to their respective schedule lot entitlements immediately before the termination. (6) If a lot included in the scheme was mortgaged immediately before the scheme was terminated, the former owner’s interest in the land as tenant in common is subject to the mortgage. (7) A liability for a charge, levy, rate or tax that had accrued on a lot included in the scheme before the scheme was terminated is not affected by the termination, and the charge, levy, rate or tax is taken to have been levied on the former owner’s interest in the land as tenant in common.

Termination process Division 12.2 Section 92