Community Titles Schemes
With good development land becoming increasing difficult to find or becoming increasing expensive, we are seeing some developments established using a Community Titles Scheme (also known as a Strata or Group Title) rather than the traditional stand-alone block of land.
Community Title Schemes are not new and have been an accepted form of property ownership for many years. The most common Community Title Schemes are high rise buildings or townhouse complexes.
The reason this scheme is used is because when purchasing these property types, you own part of a building, and the common property (for example carparks, driveways, swimming pools, gyms etc) is shared with other owners and their tenants. These shared areas are governed by a Body Corporate and Community Management Statement (and not the responsibility of the individual owner). You will also pay into a sinking fund for the upkeep of these common areas.
Community Title Schemes are not all the same as the person establishing the scheme is permitted, within the legislative constraints, to make up the rules of the scheme, or the By-Laws as the rules are officially known. If you are looking to establish a community title scheme then we can help you prepare these By-Laws or if you are purchasing in a community title scheme then our Lawyers can help you understand the By-Laws of the scheme in which you are buying.
Our expert Body Corporate Lawyers can assist you with:
- The establishment of community title schemes
- The sale and purchase of lots within a community title scheme
- The establishment, sale and transfer of management rights
- Body Corporate record searches (including due diligence investigations into the running of the body corporate)
- Advice on By-Laws
- Drafting of contracts for off the plan sales within a proposed scheme
- Advice on Body Corporate legislation (The Body Corporate and Community Management Act)
- Body Corporate disputes
Do not hesitate to call our property lawyers to discuss any Body Corporate matters in which you need advice.