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This forum has been so helpful. We are in a similar situation – one of the units in our block wants to buy an unuseable parking space to turn in to a garden. No-one is opposed to this in principle, but they have been extremely difficult when negotiating a price. First they wanted us to sign it over to them for free. Then they wanted to pay “under the table” to avoid stamp duty. Then they wanted to pay us but for us not to tell the owners of the other unit (!!!) – it is a block of three – so they could avoid paying us.
I am really relieved to find out that there is an agreed formula for pricing this kind of thing from the Supreme Court – can you let me know where I would find a copy so I can refer to it?
Also, I am worried that the owner who wants to buy the land has gone to the other owner with some story about not being able to afford it, or may be trying to do a deal “under the table” (since he already did that to us) and that the two of them will be able to outvote us at the upcoming AGM. Is this possible? Or are their some kind of minority shareholder rights? I was hoping it would have to be a unanimous resolution, but have no idea where to find this kind of information. How does voting work when it is a Strata of 3?