Property Newsflash: The First Body Corporate Meeting

The launch of a new sectional scheme is always an exciting time for both a developer and new property owner. Registration of the opening of the scheme in the Deeds Office is the culmination of many months of planning and hard work, and transfer of sections to new owner’s often takes place simultaneously.

It is therefore important to remember at this time that, in terms of Section 36 of the Sectional Titles Act 95 of 1986, with effect from the date on which any person other than the developer becomes the owner of a unit, the body corporate is deemed to be established.

The developer is then required in terms of Section 36 (7) of the Act to convene a meeting of the members within 60 days of the establishment of the body corporate. At this meeting, the developer shall furnish the members with a copy of the sectional plan; a rates clearance certificate from the local authority; and proof of income and expenditure in respect of the management of the scheme from the date of the first occupation of a unit until the establishment of the body corporate.

Once established, the body corporate is responsible for the enforcement of the rules of the scheme, and the control, administration, and management of the common property for the benefit of all owners. It is advisable for the elected trustees of the body corporate to familiarise themselves with the scheme rules and their duties and responsibilities towards the members of the body corporate.

Article by

Lauren Maltby Director

 

 

 

 

 

 

Tel: 0333553100
Email: Lauren@venns.co.za