20.
| (1) The District Court of the district in which a registered Condominium Property is situated may by declaration to that effect terminate the Condominium status of such Property in any of the following circumstances: -
| | (a) where an application is made for such termination to such Court by the owner or owners of all the units of the Condominium Property; | | |
| | (b) where an application is made for such termination to such Court by the owner of any unit in the Condominium Property consequent on the building not being repaired or reconstructed within a reasonable time after there has been a total or substantial damage to, or destruction of, the building or part thereof; | | |
| | (c) where, in the event of the building having become obsolete, the owners of not less than seventy-five per centum of the number of units agree not to renovate the building, and make an application for such termination to such Court. | | |
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| (2) Where a unit is subject to a mortgage or is otherwise encumbered, the Court shall not entertain any application under subsection (1) unless the mortgagee or a person having any other interest in the unit is also made a party to such application, and the Court shall not allow the application unless such mortgagee or other person consents to such termination. |
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| (3) The Court shall cause a copy of any declaration made under subsection (1) together with any conditions and directions attached thereto to be transmitted to the Registrar. |
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| (4) Upon receipt of the copy of the declaration under subsection (3), the Registrar shall make a note thereof on the registered Condominium Plan and in the folio of the register of Condominium Property relating thereto, and upon such note being made the owners of the units described in the Plan shall be deemed to be co-owners of the Property in proportion to their respective interests. |
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Sri Lanka Consolidated Acts