RTA · Condominium Property Act
61 Termination by Court application
satisfied that, having regard to the rights and interests of the owners
as a whole, it is just and equitable that the condominium status of
the building or parcel should be terminated, the Court may make a
declaration to that effect.
(2) When a declaration has been made under subsection (1), the
Court may by order
(a) impose any conditions, and
(b) give any directions, including directions for
(i) the transfer of the building or parcel or any portion of
the building or parcel,
(ii) the sale or disposition of any other assets held by the
corporation,
(iii) the payment of money, and
(iv) the method of distributing any funds on the transfer of
the building or parcel, or any portion of the building or
parcel, referred to in subclause (i) or the sale or
disposition of any other assets referred to in subclause
(ii), on a unit factor basis or any other basis,
that the Court thinks fit for the purpose of adjusting as between the
corporation and the owners and as among the owners themselves
the effect of the declaration.
(3) On an application to the Court under section 60(a), an insurer
who has effected insurance on the building or parcel, or a portion
of the building or parcel, against destruction of units or damage to
the building or parcel has the right to appear in person or by agent
or counsel.
RSA 2000 cC-22 s61;2024 c20 s1(27)
RSA 2000