Home Ownership Risk
Your home ownership may be at risk in the future if you’re the owner of a strata titled unit. See the Unit titles Scheme.
S15 Termination by resolution
A scheme may be terminated if:
- the body corporate of the scheme decides to terminate the scheme by a unanimous resolution; or
- all of the following conditions are satisfied:
- this paragraph applies under the management module;
- the scheme has existed for at least 20 years after the commencement of this Act (May 2009)
- the body corporate of the scheme decides to terminate the scheme by a resolution prescribed by regulation that is supported by unit owners holding at least 90% of the total interest entitlements.
The Property Council would like to reduce that to 75%. Read more