12Effect on leases of registration of strata plan for leasehold strata scheme

#### 12 Effect on leases of registration of strata plan for leasehold strata scheme 12 Effect on leases of registration of strata plan for leasehold strata scheme > > (1) Subsection (2) applies if, immediately before registration of a strata plan for a leasehold strata scheme, the whole of the parcel was subject to a lease or leases registered under the [Real Property Act 1900](/view/html/inforce/current/act-1900-025) (each a registered lease) and intended to be wholly or partly replaced by leases (each a replacement lease) of the lots and the common property shown on the plan. > > > (2) On registration of the strata plan— > > > > > (a) each registered lease is determined (each a determined lease) to the extent it related to the lots and common property, and > > > > > (b) any estate, interest or caveat affecting a determined lease affects a replacement lease to the extent it relates to the lots, and > > > > > (c) all rights and obligations of the lessee, under a determined lease, existing immediately before the registration continue to be exercisable, or may be discharged, by that lessee as if the lease had not been determined, other than to the extent that the rights and obligations are— > > > > > > > (i) inconsistent with the provisions of a replacement lease, or > > > > > > > (ii) varied by the relevant parties. > > > (3) Subsection (4) applies if, immediately before registration of a plan as a strata plan for a leasehold strata scheme, the parcel was subject to 2 or more registered leases intended to subsist after registration of the plan as leases of the lots shown on the plan. > > > (4) On registration of the strata plan— > > > > > (a) each lease that, immediately before the registration, was a lease of a part of the parcel that corresponds to a lot shown on the plan becomes a lease of that lot for the remainder of the term of the lease, subject to any estate, interest or caveat affecting the lease immediately before the registration, and > > > > > (b) if any part of the parcel comprised in the plan is shown as common property, a lease affecting that part immediately before the registration is determined to the extent it relates to the common property.