Whether you are developing, managing or conveying property in a Community Titles Scheme (CTS) (i.e. Body Corporate), you deserve lawyers who can really help you...who know and understand every aspect and can make sure you avoid the many expensive traps and legal risks.
The Property Team at McKays Solicitors will ensure that when you are involved with developing a CTS, management issues concerning a CTS or buying and selling property within a CTS, you:
• receive everything that you bargain for and that there are no hidden
surprises which you only find out after you are legally committed to a
course of action;
• will be sure of what your rights are under the Body Corporate and
Community Management Act 1997 (BCCM) and any related legislation;
• know exactly what else you are getting into, including your rights and
obligations under any other related transactions or other Contracts;
• have all the necessary authorities and permits needed to deal with CTS
matters;
• know what your costs are, including any stamp duty, legal fees and any
other expenses;
• have access to a team of lawyers who carry out full Due Diligence on the
transaction that you are embarking upon (if required by you).
When undertaking property development involving a CTS (previously called Strata Titling - involving a Body Corporate) you need to:
• know exactly what your position is with respect to undertaking the
development and the application of the relevant laws governing that type
of development - such as the BCCM Act 1997, the Land Sales Act 1984,
etc;
• understand that if you are a seller and breach any of the Legislation
applicable to body corporate Contracts, then you are exposing yourself to
the Buyer potentially terminating the Contract or claiming costs against
you;
• know that you can work with the other professional consultants involved in
the development project to maximise the chances of success, such as your
constructions manager, surveyor, town planner, engineer, financier,
accountant and financial adviser;
• have advice on structuring the CTS - including preparing Community
Management Statements (CMS) and Building Management Statements
(BMS) if required, in consultation with your surveyor and town planner
and body corporate manager;
• have a lawyer draft for you "Off the Plan Sale Contracts" and work with
your body corporate manager and sales agent to ensure that the
Contracts are prepared in such a way to assist in the sales process and
that the Contract is prepared correctly so that if you are a seller, the
buyer cannot rely on a technicality to terminate the contract;
• have a lawyer ensure that the property documents, such as the CMS
together with the Survey Plan, any Easement documents and any other
related documents are promptly sealed by the local authority and lodged
and registered by the Department of Natural Resources (DNR) as
expeditiously as possible;
• have a lawyer act for you in the conveyancing of property "Off the Plan"
and ensuring that such conveyances settle as quickly as possible (in
consultation with your financier/mortgagee).
When you are dealing with Management Rights issues involved in a CTS you need:
• to know exactly what your rights are with respect to preparing any
Management Agreements with a body corporate manager, any caretaker
or letting agents;
• to know exactly what your position is with respect to any disputes
regarding any Management Agreements, Caretaking Agreements or
Letting Agreements;
• a lawyer who can act for you in any tribunal hearings or court actions
involving the interpretation of conditions in any Management Agreements,
Caretaking Agreements or Letting Agreements.
When you are involved in buying or selling a property within a CTS, you want to be certain that:
• you know exactly what your position is with regard to any contractual
liabilities and responsibilities and obtain all appropriate indemnities and
warranties from the other party;
• be sure that the Contract is structured so as to legally minimise any GST
and any other taxation liabilities (based upon the specific advices of your
accountant and financial adviser);
• your lawyer is working with you and your financier/mortgagee to ensure
that the Contract settles in accordance with its terms and that all property
title issues and records are updated and registered accordingly.
The McKays Property Team will look after you every step of the way.and help you with all forms of transactions involving Body Corporate Law and Community Titles Scheme.
The following are the key people in our team to help you with your CTS issues and Body Corporate Law.
|
