#50336
Jimmy-T
Keymaster

    At least any money raised stays with the OC. And, although difficult to do, can be redistributed back to the owners or used for other purposes.

    Before “difficult” insert the word “ridiculously”. Under section 77 of the NSW Act, reimbursement of unused strata funds require a unanimous vote by owners.  However, there is  a provision for owners to apply to NCAT for the funds to be distributed according to the calculations on which they were raised – i.e. your unit entitlements.

    But if one or more people are going to vote against reimbursement – and the thwarted owners will – you might guess they will put up a fight at the Tribunal.

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.