Compliance with many of the provisions of the amended Unit Titles Amendment Act will be labour intensive and difficult for unit owners and sellers, as well as developers.
While the amended Act embodies improvements – including a clear and timely dispute resolution mechanism, the creation of a communications officer to help owners’ corporations, greater protection for buyers and guidelines for service contracts and legal matters – it also represents significant changes and requirements.
For example, unit owners face issues over the statutory right to cancel a contract for sale and implied warranties in sales contracts. Developers need to understand new disclosure obligations and limits on proxy voting as well as the “developer control period”.
Owners’ corporations face new conditions for dispute resolution by the ACT Civil and Administrative Tribunal and new obligations on body corporate management. There are new conditions governing the voting and passing of resolutions in body corporate meetings. Consent for keeping a pet is also covered. And there’s the 1-year sinking fund plan.
There are changed provisions on owners’ corporations’ borrowing powers. There are provisions for dealing with structural defects, entry rights into a unit in the case of an emergency, the appointment of managers along with their rights, powers and obligations.
It seems likely that those who build, own, live in, buy or sell home units will need help navigating the tricky new course laid in by these amendments. The Property Council has gathered a team of experts to present at a forum titled: “New changes to the Unit Titles Act: more risk, more uncertainty, on Wednesday, 10 June.
Guest speakers include Chris Miller, strata management specialist from Canberra Units Plan Services; Jure Domazet, director with the DOMA Group and legal experts from Mallesons Stephen Jaques.
To register for this Property Council event, click here.
Catherine Carter |
Friday, 5 June 2009 12:01 AM |