Queensland Consolidated Acts

BUILDING UNITS AND GROUP TITLES ACT 1980 - SECT 26

26 Disposition on extinguishment of plan

(1) Upon a resolution by the body corporate pursuant to section 25 (1) (a) (i) or an order of the Court pursuant to section 25 (1) (a) (ii) and, in the case of a group titles plan, the obtaining of the approval of the local government to the proposed extinguishment, the body corporate shall forthwith lodge with the land registry—

(a) a notification of the proposed extinguishment in the approved form; and

(b) in the case of a group titles plan—the certificate of the local government that the requirements of the local government have been complied with, together with any plan of subdivision under the Land Title Act 1994 approved by the local government and required by the local government pursuant to section 25 (3) (b) .

(2) Upon receipt of the notification referred to in subsection (1) together with any other documents required to be lodged by that subsection, the registrar of titles shall record the particulars thereof in the register in the manner prescribed.

(3) Upon the entry in pursuance of subsection (2) the proprietors shall be entitled to the land comprised in the extinguished plan as tenants in common—

(a) in the case of a building units plan—in shares proportional to the lot entitlements of their respective lots; or

(b) in the case of a group titles plan—in such shares as the proprietors by unanimous resolution may resolve or as the Court may order having regard to the rights and interests of the proprietors as a whole upon an application made to the Court by any person specified in section 25 (8) .

(4) Upon a resolution by the body corporate pursuant to section 25 (1) (a) (i) or an order of the Court pursuant to section 25 (1) (a) (ii) and, in the case of a group titles plan, the obtaining of the approval of the local government to the proposed extinguishment, the body corporate by unanimous resolution may transfer the land comprised in the plan or any part or parts thereof.

(5) The body corporate, if it is satisfied that all persons having registered interests in the parcel and all other persons having interests (other than statutory interests) which have been notified to the body corporate have consented in writing to the release of those interests in respect of the land comprised in the proposed disposition, shall execute the appropriate memorandum of transfer and the memorandum of transfer shall be valid and effective without execution by any person having an interest in the parcel and the receipt of the body corporate for any moneys payable to the body corporate under the terms of the memorandum of transfer shall be a sufficient discharge, and shall exonerate the persons taking under the memorandum of transfer from any responsibility for the application of the moneys expressed to have been so received.

(6) Every memorandum of transfer executed pursuant to subsection (5) and lodged for registration shall be endorsed with or accompanied by a certificate under the seal of the body corporate that the resolution was duly passed and that all necessary consents were given.

(7) In favour of purchasers of the land comprised in the extinguished plan and in favour of the registrar of titles, the certificate shall be conclusive evidence of the facts stated therein.

(8) Upon lodgement for registration of a memorandum of transfer of land comprised in an extinguished plan by the body corporate pursuant to this section, the registrar of titles shall, before issuing a certificate of title, make the recordings prescribed by subsection (2) .

(9) Where land is transferred by the body corporate pursuant to this section—

(a) the proprietors shall surrender to the land registry their certificates of title for cancellation; and

(b) the registrar of titles shall cancel the certificates of title relating to the lots and, after registering the memorandum of transfer, issue to the transferee a certificate of title for the land transferred and;

where part only of the land comprised in the extinguished plan is transferred, issue to the proprietors as tenants in common in the shares determined pursuant to subsection (3) a certificate of title for that part of the land that was not transferred.

(10) Where no resolution is made in accordance with subsection (4) the registrar of titles shall, after cancelling all certificates of title relating to the lots and recording the extinguishment of the plan in the register, issue to the proprietors as tenants in common in the shares determined pursuant to subsection (3) a certificate of title under the Land Title Act 1994 for the land comprised in the extinguished plan.

(11) The person who is the proprietor of a lot immediately prior to the extinguishment of a plan shall continue after extinguishment to be liable for any rate or charge made and levied by a local government before extinguishment in respect of that lot.