Common Property Boundaries
Defining common property boundaries in a body corporate is essential in working out who is responsible for what. As a general rule of thumb: common property = body corporate responsibility, lot = lot owner responsibility. Bodies corporate are forbidden from spending joint funds on works that benefit a lot and for lot owners there is no […]
Common Property
The body corporate is responsible for managing the common property. In fact that’s a nice simple definition of what a body corporate really is. Common property is the area that is not contained within the lot. That’s not really clear so lets look at some examples. Two Types Of Body Corporates There are two types of body corporates; […]