When a body corporate is registered the schedule of interest and contribution lot entitlements are set out in the CMS. But who sets those lot entitlements? The first lot entitlements for any body corporate are set by the developer. Now days contribution lot entitlements are required to be equal, unless being equal would then result in […]
posted on March 30, 2013 by
Schedule of Lot Entitlements
Who pays for what when ownership is shared? For all their complexity body corporates are simply mechanisms for managing common property. That common property is owned by the collective lot owners who are responsible for paying for the upkeep of said property by way of levies. How to actually calculate who pays and owns what […]
posted on March 22, 2013 by
Changes To Lot Entitlements Legislation
This week the Queensland parliament have passed the Body Corporate & Community Management Amendment Bill 2012. The Amendment Act amends another amendment act that was passed in 2011 that amended some case law that had been in effect since 2004. Specifically the issue all these laws relate to is levies, or more precisely the contribution […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
