Queensland Consolidated Acts

LAND ACT 1994 - SECT 294I

294I Extinguishing a building management statement

(1) A building management statement may be extinguished by registering a document of extinguishment of the building management statement.

(2) A building management statement may be extinguished in part to remove a lot that is not contained in, or does not contain, a building or a part of a building, by registering an instrument of partial extinguishment of the building management statement.

(3) The instrument of extinguishment or partial extinguishment must be signed by the lessees of all lots to which the building management statement applies.

(4) However, a building management statement may be extinguished or partially extinguished only if—

(a) for a partial extinguishment—all registered mortgagees of a lot to be removed consent to the partial extinguishment; or

(b) otherwise—all registered mortgagees of lots to which the building management statement applies consent to the extinguishment.