216 Conversion To Freehold Strata Plan

• 216 (1) When the leasehold landlord transfers the fee simple estate in each of the strata lots included in a ground lease to each of the leasehold tenants and the registrar registers each leasehold tenant as the fee simple owner of their strata lot described in the strata lot lease,

• (a) the strata plan continues as a strata plan and the land shown on the strata plan is not subject to a ground lease,
• (b) the strata corporation continues as if it were originally created by deposit of a strata plan that was not a leasehold strata plan,
• (c) the strata lot lease ceases to exist and the leasehold tenant and the leasehold tenant’s successors in interest cease to be liable for the performance of obligations in the strata lot lease,
• (d) any charge in existence against the leasehold tenant’s interest immediately before the registration of the fee simple becomes a charge against the fee simple estate acquired by the leasehold tenant, and, if the charge was registered, the registrar must register it against the fee simple title, and
• (e) any schedule of restrictions filed under section 206 is repealed and the restrictions set out in it cease to apply.

• (2) The registrar may register the fee simple title in the strata lot only if the registrar has

• (a) received a similar application for registration in respect of all leasehold strata lots included in the leasehold strata plan, and
• (b) determined that all the applications are registrable.

1998-43-216, effective July 1, 2000 (B.C. Reg. 43/2000); 2009-17-32, effective December 11, 2009 (B.C. Reg. 312/2009).