Unit Titles Act 2010

162 Restrictions on surrenders and releases

• (1) After the deposit of a unit plan to which this Part applies, and until the cancellation of the plan,—

  • (a) no owner of a unit may surrender or agree to surrender the stratum estate in leasehold in that unit to the lessor, whether for valuable consideration or otherwise:

  • (b) the lessor must not release or agree to release any unit or the common property or any part of the common property from the lease, whether for valuable consideration or otherwise:

  • (c) subject to section 169, if the owner of a unit purchases or acquires (whether by operation of law or otherwise) the lessor’s reversionary estate in the base land, that estate does not merge with the stratum estate in leasehold in that unit:

  • (d) subject to section 169, if the lessor purchases or acquires the stratum estate in leasehold in any unit (whether by operation of law or otherwise) that estate does not merge with the lessor’s reversionary estate.

  (2) Any purported surrender or release in contravention of subsection (1)(a) or (b) is void and of no effect.

  (3) Nothing in this section prohibits—

  • (a) the body corporate from dealing with the estate as lessee in the common property as a whole or in any part or parts of the common property:

  • (b) all the owners of all the units from surrendering or agreeing to surrender to the lessor the stratum estates in leasehold in all the units:

  • (c) the lessor from releasing or agreeing to release all the units together with the whole of the common property from the lease.

  Compare: 1972 No 15 s 25