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  1. #1

    Question Exiting a body corporate-can it be done

    My body corporate has four members, -two are standalone and two share a common wall.Its layout is a bit like a C with a fullstop.My property is situated between the two who share a common wall but I am standalone.Out front is the street and we all have our own driveways etc
    Our properties are zoned commercial and our services are independent of each other.

    Two of us would like to exit the body corp as we see that it offers no financial advantage and in fact it costs more to be a part of it and the costs seem to spiral.the insurance premuims went up over 150% last year due to the insurance brokers citing the costs of one of our neighbours having a fire.
    Naturallly our BC administrator seems to accept that and one wonders about why anyone would accept that rise-do BC Adminstrators get commisions for taking business to certain insurers.

    What is the process for exiting the BC -subdivision seems to be one options but are there any others.

  2. #2
    Join Date
    Sep 2008
    Posts
    7,581

    Default

    assuming you are asking a ?

    your 1st step would probably be to ask the bc admin for a copy of the bc rules

    in there should be all the info you

    if they ask why

    tell them you would like a copy for your records

    if they can't provide them right away

    ask them why
    have you defeated them?
    your demons

  3. #3

    Default

    Yes I am asking a question and thanks for giving us some direction.

    If anybody else has experience of doing this, we would appreciate your help.

    As each of our properties already has established and there will be no disruption to physical aspects of our property, would we have to pay a reserve contribution.

  4. #4
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    Why don't you just run the body corp yourself?

  5. #5
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    Quote Originally Posted by Tan View Post
    Why don't you just run the body corp yourself?
    Gang together with another owner and take control of BC yourself.

  6. #6
    Join Date
    May 2006
    Location
    Mordor
    Posts
    1,048

    Default

    Quote Originally Posted by whitt View Post
    Gang together with another owner and take control of BC yourself.
    That's the only way I can see. When you buy a unit title you buy a share in the body corporate. Its part of the title rights and obligations. You can't hold a unit title without it.

  7. #7
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    3,936

    Default

    Some investors on these forums have taken BC control by majority.
    Then increased the BC fee for a couple of years to cover items they personally wanted done.

  8. #8
    Join Date
    Sep 2006
    Location
    Christchurch
    Posts
    892

    Default

    To answer your original question Dianem, you can cause the BC to cease to exist if everyone agrees by changing the titles for the properties from Unit Titles to Fee Simple titles (the two connected dwellings would have a party wall easement).

    The problem is that requires the property to be surveyed (among other things) so the cost may be prohibitive. You could probably get a free quote from a surveyor though if you wanted to pursue it further.

  9. #9
    Join Date
    Sep 2007
    Location
    Christchurch
    Posts
    1,259

    Default

    Does everyone have to agree? Couldn't one owner just split their unit off from the unit title?

  10. #10
    Join Date
    Sep 2008
    Posts
    7,581

    Default

    don't think that would work

    imagine 1 apartment in a building with 500 apartments wanting to opt out...

    sounds absurd, but i think it's in the same legal position
    have you defeated them?
    your demons


 

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