Where's the security of tenure? | Forced sales - the 75 percent solution | Flat Chat Forum: Your Questions Answered
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Could provision made that an owner would move out during construction and move in to an apartment with a similar aspect on completion?I have noticed that owners who sell to a developer never get sufficient to buy into the re development .
In fact there a is a lesser know provision of the Act that allows owners to add lots to their existing buildings, reconfigure the strata plan, redistribute the unit entitlements and sell the additional units to pay for work done. It’s happened already in buildings where there is 100 per cent owner approval. With the new laws, the majority of owners can agree to do this. You’ll find an article I wrote about this here.
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