24Effect of creation of common property by registration of plans or notices

#### 24 Effect of creation of common property by registration of plans or notices 24 Effect of creation of common property by registration of plans or notices > > (1) This section applies if common property in a strata scheme is created by registration of a strata plan, strata plan of subdivision or notice of conversion. > > > (2) On registration of the plan or notice, the common property— > > > > > (a) vests in the owners corporation of the strata scheme, and > > > > > (b) is freed and discharged from any mortgage, charge, covenant charge, writ or caveat affecting the land, and > > > > > (c) if the common property is land in a freehold strata scheme—is freed and discharged from any lease affecting the land immediately before registration of the plan or notice, other than a lease that is necessary for the purpose of providing a service to the scheme. > > > (3) The Registrar-General must, on registration of a strata plan, create a folio for the estate or interest of the owners corporation in the common property. > > > (4) Subsection (2) does not affect a right or remedy that may be exercised otherwise than in relation to common property by a person who is a mortgagee, chargee, covenant chargee, lessee, judgment creditor or caveator, even if the person signed or consented to the registration of the plan or signed the notice creating the common property.