New South Wales Consolidated Acts New South Wales Consolidated Acts
(1) There must be lodged with the instrument converting a neighbourhood lot to neighbourhood property--(a) a replacement sheet for the neighbourhood property plan that illustrates the altered boundaries of the neighbourhood property, and(b) a replacement sheet for the initial or revised schedule of unit entitlements for the neighbourhood plan that includes the allocations made under clause 2 and their total and that, if it is a replacement sheet for the initial schedule, complies with Schedule 11, and(c) a certificate by the consent authority signifying its consent to the conversion, and(d) unless the conversion was ordered by the Supreme Court--a certificate under the seal of the neighbourhood association to the effect that it has, by unanimous resolution, consented to the conversion and the replacement sheet for the schedule of unit entitlements.
(2) Unless the conversion was ordered by the Supreme Court, the conversion instrument and replacement sheets must have been signed by the proprietor of the lot and by the neighbourhood association.
(1) A replacement sheet for the initial or revised schedule of unit entitlements must make a proportionate allocation among the remaining neighbourhood lots of the unit entitlement for the lot to be converted unless the conversion is ordered by the Supreme Court and the Court otherwise directs.
(2) The proportional allocation under subclause (1) must be based on the relative sizes of the existing unit entitlements for each lot.
(3) The unit entitlement of each lot must be rounded off to the nearest whole number and the replacement sheet must show the total of those unit entitlements.
The folio for the lot must be freed from any mortgage, charge, covenant charge, lease or caveat.
If the lot to be converted is held by the original proprietor--
(a) the initial period must have expired, or
(b) the conversion must have been authorised by the Tribunal.