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Biblioteca Common Leasehold Schemes Act (Cap. 208).

Common Leasehold Schemes Act (Cap. 208).

Common Leasehold Schemes Act (Cap. 208).
An Act to provide for the division of land and buildings into units with separate titles by means of common leasehold schemes; and to provide for matters connected with or incidental to the foregoing.

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LEX-FAOC046302
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The Act provides for common leasehold schemes, i.e. a scheme registered under this Act for the division of a parcel of land and its buildings into units. “Units” means the part of the parcel of land and buildings specified as a unit in a common leasehold scheme together with the share of the common property appurtenant thereto.The Act consists of 27 sections divided into 6 Parts: Preliminary (I); Common Leasehold Schemes (II); The Body Corporate under a Common Leasehold Scheme (III); Phased developments (IV); Variation and Termination of A Common Leasehold Scheme (V); Miscellaneous (VI).Land registered in the Land Register may be subdivided by registering a common leasehold scheme in the manner provided by this Act. The Registered Proprietor of a parcel of land on the Lands Register may apply to the Registrar for the registration of a common leasehold scheme in relation to the parcel under section 4. Section 5 specifies the content of a common leasehold scheme. Upon the registration of a common leasehold scheme, the unit-holders shall constitute a body corporate in accordance with provisions of Part III. The body corporate shall be governed by this Act and the by-laws of the body corporate as set out in the Schedule to this Act. The unit-holders under a common ownership scheme may, by unanimous resolution, create easements and covenants. Part IV concerns a common leasehold scheme which includes units for which no Certificate of Title has yet been issued.

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