Terminating strata schemes in Australia under the current legislation in New South Wales, schemes are usually only terminated by an application to the registrar general where 100% of the lot owners, lessees and mortgagees have agreed to the termination [20][21] There are two mechanisms for terminating a strata scheme in New South Wales (Strata Schemes Freehold Development Act 1973 ss. 51 and 51A):[21]
1 By unanimous agreement: 100% of owners, leasees, mortgagees, chargees, and covenant chargees must agree to terminate the scheme, and sign the application for termination, which is decided by the registrar general; or
2 By order of the Supreme Court. In practice, very few strata schemes have been terminated in New South Wales as “the normal
1 By unanimous agreement: 100% of owners, leasees, mortgagees, chargees, and covenant chargees must agree to terminate the scheme, and sign the application for termination, which is decided by the registrar general; or
2 By order of the Supreme Court. In practice, very few strata schemes have been terminated in New South Wales as “the normal