All Topics / The Treasure Chest / Body Corprate question

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  • Profile photo of birdmanbirdman
    Participant
    @birdman
    Join Date: 2002
    Post Count: 38
    February 4, 2003 - 4:09 am

    Hi Everyone,

    Has anyone bought a complete set of units and townhouses that had a body corporate in place? If you own all of the dwellings, is there a need to keep the body corporate or can it be disolved and you just take on the responsibilities of insurance, maintenance, care of common areas, etc. Is this easy to do or are there legal requirements that dictate that you need to have a body corporate?

    Thanks,
    Stephen

    Profile photo of amidoonamidoon
    Participant
    @amidoon
    Join Date: 2003
    Post Count: 1
    February 4, 2003 - 4:33 am

    The body corporate is a requirment. But as you own all of the units the responsablities are that you act in the best interest of the property. You will find that insurance, maintenence and upkeep is far less expensive as a group as apposed to each individual unit taking on each task.

    regards
    Marie

    Profile photo of birdmanbirdman
    Participant
    @birdman
    Join Date: 2002
    Post Count: 38
    February 4, 2003 - 6:07 am

    Thanks Marie

    Profile photo of TheBTheB
    Member
    @theb
    Join Date: 2002
    Post Count: 135
    February 8, 2003 - 1:23 pm

    Hi Birdman

    I don’t see any problem with dissolving it if you are gong to keep all of the units.

    You should stil be able to organise a bulk deal on purchases as already existed, and then you will not have to pay for the manager.

    Mmmm,. however, it sounds like one of those “you need to take your own legal advice” questions [:)]

    cheerio

    the Bruce

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