Land And Conveyancing Law Reform Act 2009

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Bodies corporate.

32.— (1) A body corporate may acquire and hold any property in a joint tenancy in the same manner as if it were an individual.

[BC(JT) A 1899]

(2) Where a body corporate and an individual or two or more bodies corporate become entitled to any property in circumstances or by virtue of any instrument which would, if the body or bodies corporate had been an individual or individuals, have created a joint tenancy, they are entitled to the property as joint tenants.

(3) On the dissolution of a body corporate which is a joint tenant of any property, the property devolves on the other surviving joint tenant or joint tenants.