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Our EC is meeting tomorrow night to discuss a proposal to split our Strata. Our SP was developed in two phases, the first phase was all sold, the second was retained by the developer, who now wants to split the strata to separate the developer's properties from the rest. Is there anything in the Strata Management Act that would allow this? If so what are the most important issues to be considered, and how would the change be implemented?
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You’ve left it a bit late for a comprehensive answer to a very comp0licated question. There are all sorts of things to consider such as how many votes does the developer currently have (if he still owns more than 50 percent of the properties his voting power is reduced to one-third).
I reckon your EC needs need to pay for a strata lawyer to sit in on the meeting and advise of the legalities, preferably at the developers expense (but not their choice of lawyer).
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