124 (1) If the corporation sells the property or a part of the common elements, this Act ceases to govern the property or the part of the common elements being sold. 2015, c. 28, Sched. 1, s. 107 (1). Authorization of sale (2) The corporation shall not sell the property or a part of the common elements unless, (a)  the owners of at least 80 per cent of the units, at the date of the vote, vote in favour of the sale; (b)  at least 80 per cent of those persons who, at the date of the vote, have registered claims against the property being sold, that were created after the registration of the declaration and description that made this Act applicable to the property being sold, consent in writing to the sale; and (c)  if the sale is for only part of the common elements and includes common elements that are for the use of the owners of certain designated units and not all the owners, the owners of the designated units consent in writing to the sale. 1998, c. 19, s. 124 (2). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 124 (2) of the Act is amended by striking out “and” at the end of clause (b), by adding “and” at the end of clause (c) and by adding the following clause: (See: 2015, c. 28, Sched. 1, s. 107 (2)) (d)  all other conditions, if any, that are prescribed have been satisfied. Loss of owner’s right to consent (2.1) An owner is not entitled to consent under clause (2) (c) if any contributions to the common expenses payable for the owner’s unit are in arrears for 30 days or more. 2015, c. 28, Sched. 1, s. 107 (3). Payment of arrears (2.2) An owner who, under subsection (2.1), is not entitled to consent may consent after the corporation receives payment of the arrears with respect to the owner’s unit. 2015, c. 28, Sched. 1, s. 107 (3). Conveyance (3) When a sale takes place, the board shall deliver to the purchaser the following documents signed by the authorized officers of the corporation: a deed and a certificate in the form prescribed by the Minister stating that the persons who, under subsection (2), are required to vote in favour of the sale or consent in writing to the sale have done so. 1998, c. 19, s. 124 (3). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 124 (3) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 107 (4)) Conveyance (3) When a sale takes place, the board shall deliver to the purchaser a deed and a certificate that, (a)  are signed by the authorized officers of the corporation and are in the form prescribed by the Minister; (b)  state that the persons who, under subsection (2), are required to vote in favour of the sale or consent in writing to the sale have done so; and (c)  contain all other statements and material, if any, that are prescribed. 2015, c. 28, Sched. 1, s. 107 (4). Proceeds (4) Subject to subsection (5), the owners at the time of the registration of the deed shall share the net proceeds of the sale in the same proportions as their common interests. 1998, c. 19, s. 124 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 124 (4) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 107 (4)) Net proceeds (4) Subject to subsection (5) and section 125, the owners at the time of the registration of the deed, as determined by the regulations, shall share the net proceeds of the sale in the same proportions as their common interests, subject to the conditions, if any, that are prescribed. 2015, c. 28, Sched. 1, s. 107 (4). Same (5) The portion of the proceeds of the sale that is attributable to a portion of the common elements that is for the use of the owners of certain designated units, and not all the owners, shall be divided among the owners of the designated units in the proportions in which their interests are affected. 1998, c. 19, s. 124 (5). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 124 (5) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 107 (4)) Same (5) The portion of the net proceeds of the sale that is attributable to a portion of the common elements that is for the use of the owners of certain designated units, where the owners are those at the time of the registration of the deed, as determined by the regulations, and not all the owners at that time, shall be divided among the owners of the designated units in the proportions in which their interests are affected, subject to the conditions, if any, that are prescribed. 2015, c. 28, Sched. 1, s. 107 (4). Section Amendments with date in force (d/m/y) 2015, c. 28, Sched. 1, s. 107 (1, 3) - 01/11/2017; 2015, c. 28, Sched. 1, s. 107 (2, 4) - not in force