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Posted 19 August 2019
Category: Strata, Urban Renewal
In the recent landmark decision of Application by the Owners – Strata Plan No 61299  NSWLEC 111, the first ever application was brought before the Court under Part 10 of the Strata Schemes Development Act 2015 (SSD Act).
This case now serves as a guide for owners corporations interested in strata renewal and will provide some confidence to purchasers and financiers investigating or considering urban renewal sites.
This historic decision is a sensible and pragmatic approach to the interpretation of the SSD Act and provides greater certainty to owners corporations who wish to embark on the strata renewal process.
***The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way.