#25692
Jimmy-T
Keymaster

    You will need council approval and a special resolution by-law from your owners corp.  

    The formula, as established by the High Court is x = a – (b+c) where

    x = the amount you pay the owners corp
    a = the agreed estimated value of the improved apartment
    b = the agreed value of the unimproved apartment
    c = the agreed cost of the improvements, including plans and legals 

    Hope that makes sense to the algebra-challenged.

    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.