s.14Disposition of common property
14
Section 14Part 4 — Registration and Dealings

Disposition of common property

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The proprietors may, by super-majority resolution, direct their corporation to transfer or lease the common property or any part thereof.
If a corporation is satisfied that the resolution was duly passed and that all persons having interests, of which the corporation has notice, in the parcel have consented in writing to the release of those interests in the land comprised in the proposed transfer or lease or, in the case of a lease, having approved in writing of the execution of the lease, the corporation shall execute the appropriate transfer or lease and such transfer or lease shall be valid and effective without execution by any person having an interest in the common property, and the receipt of the corporation for the purchase money, rent or other money payable to the corporation under the terms of the transfer or lease shall be a sufficient discharge and shall exonerate all persons taking under the transfer or the lease, as the case may be, from any responsibility for the application of the moneys expressed to have been received.
Every such transfer or lease lodged for registration shall be endorsed with or accompanied by a certificate under the seal of the corporation that the resolution referred to in subsection (1) was duly passed, that the transfer or lease conforms with the terms thereof and that all necessary consents were given, and such certificate shall, in favour of purchasers of the common property and in favour of the Registrar, be conclusive evidence of the facts stated therein.

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