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  1. #1

    Default house with body corp?

    Hi guys

    Im interested in this house which has another house connected to it. The title says its got a body corporate and the body corporate address is the address of the houses. There are no common grounds. What does this mean? If i want to make any changes to the house will i need to get permission?

    thanks in advance

  2. #2
    Join Date
    May 2004
    Posts
    2,779

    Default

    There's the legal position and the practical position. Legally, the body corp is likely to be responsible for the building envelope and out to the boundary, including maintenance and insurance. In practice, in a 2 unit situation, there may be an agreement to each look after their own unit and grounds. There may not even be a body corp set up, apart from the initial documentation and unit plan.

    Suggest you read through the Unit Titles Act, have a chat to the agent and the owner of the other unit, asking lots of questions. If the body corp is set up, ask to see the minutes and accounts as a minimum. When you have a good idea of the situation, talk to your lawyer.

    Suggest you are very cautious with this one. You could run into all sorts of situations in future and they may not be easy to resolve.

  3. #3

    Default

    I have seen a few of these on TradeMe of late, one lot just out of Lower Hutt, another in Cannons Creek.

    Note the number of units which encompass voting rights within the Body Corporate, and if you have the ability to, establish who owns the units pertaining to those voting rights.

    Effectively, if you do not have a fair chance in voting rights (e.g. if another person owns all or most of the other units/apartments) then effectivly your capital is at the disposal of that entity.. if they change the building, the purpose of the building, make allowances for things to take place on the property for which you do not agree etc, you will have no ability to stop them.

    You might want to find out why the property needs a BC entity if there is no common property.. what are the BC payments being used for - ask for the BC minutes and accounts which are required to be released annually.

    As stated above, be very cautious, be very thorough on your due diligence.

  4. #4

    Default

    thanks alot for your feedback guys. Place sold today so didnt have enough time to look into it


 

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