The Land and Environment Court has recently approved a collective sale of a strata scheme.

This is the first time the Court has approved the collective sale of a strata building since the strata renewal laws commenced on 30 November 2016.

The case highlights the importance of ensuring each step in the collective sale process is followed to the letter of the law.

The case also provides guidance on how various problems created by the strata renewal laws will be resolved by the Court including problems determining the amount of compensation that should be payable to the owners.

In this article we take an in-depth look at the case and what lessons can be learned from the Court’s decision First Strata Collective Sale Approved by Court

For NSW strata legal or levy collection advice please contact us here or call 02 9562 1266, we’re happy to assist.