32 Registration with unit-holders

32 Registration with unit-holders

On registration, where the application includes a statement of the units and unit-holders¹, there is no transitional period and the commonhold becomes fully effective at once. Accordingly:

1. 32.1

       the commonhold association is automatically registered as proprietor of the common parts²;

2. 32.2

       any charge of the common parts is automatically extinguished³;

3. 32.3

       any charge of part of a commonhold unit will be extinguished⁴;

4. 32.4

       the persons named as the initial unit-holders are automatically registered as freehold proprietors of their respective units⁵;

5. 32.5

       the rights and duties