26Registration and effect of dealings

26 Registration and effect of dealings

26 Registration and effect of dealings

(1) As soon as practicable after accepting a dealing under section 25, the owners corporation must lodge the dealing evidencing the transaction for registration under the Real Property Act 1900.

(2) The dealing must be accompanied by a certificate, in the form approved by the Registrar-General, under the seal of the owners corporation certifying that the owners corporation authorised the dealing by special resolution.

(3) If the dealing is a transfer of land, it may be registered only if a plan showing the transferred land and the original parcel as a single lot is registered under the Conveyancing Act 1919.

(4) On the registration of an accepted lease or sublease, the leasehold interest becomes common property.

(5) On the registration of a transfer of land, the land becomes common property.

s 26: Am 2021 No 10, Sch 3.21[2].