The deposit of a unit plan creates in each principal unit and each accessory unit a stratum estate in freehold or a stratum estate in leasehold or licence, as the case may be, that comprises—
(a) the fee simple estate or, as the case may be, the estate as lessee or licensee in the unit determinable in accordance section 74 or subpart 2 of Part 4; and
(b) the beneficial interest in the fee simple estate or, as the case may be, the estate as lessee or licensee in the common property of the unit title development to which the owner of the unit is entitled under section 54(2); and
(c) the undivided share in the fee simple estate or, as the case may be, the estate as lessee or licensee in all the units to which the owner of the unit is contingently entitled under subpart 2 of Part 4.
Compare: 1972 No 15 s 4(2)