What happens to the body corporate membership when a unit owner sells their unit?
Bodies corporate have “perpetual succession”, meaning they have their own identity and continue to exist despite changes in membership. When a unit owner sells their unit they are no longer a member of the body corporate, and the new unit owner becomes a member of the body corporate.
Can body corporate sell common property?
And there is even a process in the Sectional Titles Schemes Management Act, 8 of 2011 (the STSMA) for selling common property. The process is referred to as alienation of common property and it requires a unanimous resolution of the body corporate to authorise.
What does a body corporate manager do?
What does a Body Corporate Manager do? Body Corporate Managers are involved in coordinating the affairs of lot owners including conducting meetings, collecting and banking levies, advising on asset management, arrange insurance valuations, manage insurance claims and keeping financial accounts.
Can a body corporate remove an owner?
The body corporate can remove, change or add to the default rules. You should make sure you have the most up-to-date copy of the rules.
Can a body corporate force an owner to sell?
For instance, the body corporate can force an owner of a unit to comply with its rules – by application of a High Court interdict if necessary.
What are the body corporate rules?
What are the Body Corporate Rules? The Body Corporate draw up a set of rules that apply to the unit owners and tenants occupying the units within the scheme, outlining the management of the scheme and the expected conduct of the occupants in accordance with the 1986 Sectional Titles Act.
Do body corporates have to be registered?
When another person other than the developer becomes an owner of a unit in the scheme, a body corporate is established for that scheme and it must be registered with the CSOS.
Who pays for maintenance in a body corporate?
Unit owners
The body corporate repairs and maintains the common property. Unit owners pay levies that pay for maintenance and other general expenses.
Can a body corporate impose a fine?
However, as per the opinion of a number of well-known attorneys who specialise in sectional title, it is possible for a body corporate to impose legally enforceable fines if the body corporate has properly adopted a carefully drafted rule providing for fining owners and residents.
Can an owner Sue a body corporate?
The STSMA also establishes that a body corporate is a legal entity that can sue or be sued in its own name in respect of the following: Any contract entered into by the body corporate. Any damage to the common property. Any matter in connection with the land or building for which the body corporate is liable.
What rights does a body corporate have?
The rights of a body corporate chairperson Let’s get things straight, a body corporate chairperson does not have any special powers – other than having a swing vote if a voting situation reaches a deadlock. Apart from that the chairperson has the same rights as every other owner in the complex.
Does a body corporate need to be audited?
Management Rule 26(4) requires that ALL body corporates must be audited, except if all sections / units are registered in the name of one person.
What happens when you buy a unit in a body corporate?
Buying a unit in a body corporate If you buy a flat, unit or apartment that has a body corporate, you automatically become a member of a body corporate. This means you have bought the title to your flat or unit, as well as a share in the building and its surroundings, for example the garden and car park.
What is a body corporate in unit title?
Every unit title property has a body corporate. If you own a unit in a unit title development, you are a member of the body corporate. They will meet at least once a year to talk about issues and vote on decisions.
What are the management rules for a body corporate?
Like any other entity, the body corporate is subjected and regulated by a set of rules. These are Management Rules and they describe the powers and responsibilities of the trustees and deal with ways that the trustees manage the body corporate. The Management Rules are contained in Annexure 8 of the Sectional Titles Act.
What happens when you own a unit in a unit title?
If you own a unit in a unit title development, you are a member of the body corporate. They will meet at least once a year to talk about issues and vote on decisions. The body corporate has powers and duties under the Unit Titles Act. These include: Setting the operational rules.