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 Rights violation: OZschwitz owners will be forced to sell under new laws

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RR Phantom

RR Phantom

Location : Wabbit Hole
Job/hobbies : Cayman Islands Actuary

Rights violation: OZschwitz owners will be forced to sell under new laws Vide
PostSubject: Rights violation: OZschwitz owners will be forced to sell under new laws   Rights violation: OZschwitz owners will be forced to sell under new laws Icon_minitimeSun Apr 20, 2014 7:16 pm

A majority of apartment owners will be able to force their neighbours to sell their homes to developers under proposed laws to be taken to the NSW cabinet for approval next month.

Rights violation: OZschwitz owners will be forced to sell under new laws Mb_narrow_ayers-20140420192118523967-300x0

Currently, every owner needs to agree to sell their apartment before an entire block can be sold for demolition or to developers.

But just three in four owners would need to agree to sell under the proposed new laws that Fair Trading Minister Stuart Ayres' department has drafted for cabinet approval.

Mr Ayres said the proposed package of reforms he hopes to table in Parliament next month are ''vital to future-proof strata in NSW''.

Read more: http://www.smh.com.au/nsw/owners-will-be-forced-to-sell-under-new-laws-20140420-36ywp.html#ixzz2zTHy0w4B
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