Commentary

126 Voluntary winding up: termination

COMMONHOLD vol 8(1)
| Commentary

126 Voluntary winding up: termination

| Commentary

126 Voluntary winding up: termination

After the termination of the commonhold the commonhold association will be the registered proprietor of all the units as well as of the common parts1.

There is no reference in the legislation to the discharge of any registered charge. Accordingly, it would appear that, no matter who the registered proprietor of a unit may be, the units will remain subject to any registered charge2. However, the chargee’s personal remedies will not be exercisable against the registered proprietor of a unit who is not also the borrower (as would be the case when the units vest in

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