HG News: Property News - Apr 2008

 

Certificates of Classification

On 15 April 2008 Parliament passed The Building and Other Legislation Amendment Bill 2008. It is expected that the Bill will commence on assent (which is expected to be at the end of April 2008).

The Bill contains amendments to the Building Act 1975, the Fire and Rescue Service Act 1999 and the Local Government Act 1993 (the Amended Acts). The effect of the amendments is to impose additional obligations on property owners to display copies of certificates of classifications for their properties in certain circumstances and to ensure compliance by occupiers in relation to the conditions of the certificates.

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Body Corporate’s Right to Impose a Transfer Fee
The consent of the Body Corporate is required for the transfer of the Management Rights for a community titles scheme. That consent may be given by the committee of the Body Corporate (the Committee). By way of example, under the Body Corporate and Community Management (Accommodation Module) Regulation 1997 (Qld) (BCCM Regulation), the Committee has a right to impose a transfer fee if the transfer of the Management Rights is to be effected within 3 years of the initial date of engagement. The transfer fee is imposed at the discretion of the Committee who must act reasonably. It is an optional charge which, if imposed, must be paid to the Body Corporate by the outgoing Manager.

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Reminder– New PAMD Forms
This is a reminder that the PAMD Forms have been updated by the Office of Fair Trading and the new versions of the forms must be used from 1 April 2008.

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New BCCM Form 14

This is an alert that the a new version 7 of the BCCM Form 14 Contract Warning (Body Corporate Information) must be used in Contracts for the sale of a proposed or existing lot in a community titles scheme from 18 April 2008.

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Certificates of Classification
Body Corporate’s Right to Impose a Transfer Fee
Reminder– New PAMD Forms
New BCCM Form 14
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