Failing to register a strata plan with the Commission of Strata Corporation within 90 days of its incorporation can lead to serious legal repercussions. Under the Registration (Strata Titles) Act, this failure is considered a criminal offense, highlighting the importance of compliance with the law. If a strata plan is not registered, the proprietors may face various consequences. This includes potential fines or penalties imposed by authorities, creating financial burdens for the owners. Additionally, not having a registered strata can complicate matters related to financing; banks and lenders often require proper registration to verify the legitimacy of the property, making it difficult for owners to secure loans or mortgages.
Moreover, unregistered strata plans can hinder the ability of owners to resolve disputes effectively. Without official registration, decisions made by unit owners regarding shared areas or maintenance responsibilities may lack legal enforceability, leading to co…
