Power of Sale (strata corporation)

Power of Sale refers to the legal authority granted to a strata corporation or commission to sell a property when the proprietor has failed to pay their maintenance contributions or strata fees. In strata communities, this process is used as a remedy for collecting unpaid dues and maintaining the financial health of the strata scheme. When a property owner neglects their financial obligations, the strata commission can initiate the power of sale to recover the outstanding amounts by selling the property. This action helps ensure that the strata community’s maintenance and operational costs are covered, safeguarding the interests of all residents and maintaining the integrity of the property management system.