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 OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law

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RR Phantom

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OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law Vide
PostSubject: OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law   OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law Icon_minitimeTue Nov 12, 2013 7:58 pm
majority of apartment owners will be able to force their neighbours to sell their homes under proposed laws being drafted by Fair Trading.

OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law MOR-apartments-20131113100733291530-620x349

At present, every single owner in a strata building in NSW has to agree to sell their unit before the strata scheme can be demolished and replaced with a newer building.

But if the proposed laws come in next July, the threshold will be reduced to 75 per cent of owners, say strata industry professionals who have helped formulate the legislation.

With many of the state's original strata blocks facing the end of their useful lives, it may mean that, in a typical 1960s 12-unit walk-up, two or even three owners will be forced to sell against their will.

http://smh.domain.com.au/real-estate-news/strata-neighbours-can-be-forced-to-sell-under-proposed-law-20131112-2xelr.html
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OZschwitz rights violation: Strata neighbours can be forced to sell under proposed law

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