In Building Format Plans, the Body Corporate is responsible to insure the buildings on scheme land. Most insurance policies include cover for anything that is ‘plumbed in’ to the building. This would include stoves, airconditioning units, solar panels, rainwater tanks. Insurance coverage addresses events such as fire, theft, motor fusion, storm and consequential damage. It does not address […]
Lot ledger disputes can occur between lot owners and Committees. This can be a minefield particularly when penalties and discounts are in play. BCCM adjudicators have identified that they are unable to act in debt disputes (refer Section 229A(3)). This BCCM adjudication sets out the situation very clearly – If Ms Naismith does now pay all amounts […]
New lot owners are often confused by the settlement process between buyer and seller and what happens with levies and lot ledger balances. The BCCM regulations state S79 (Small Schemes Module) and S145 (Standard Module) that – A liability to pay a body corporate debt in relation to a lot is enforceable jointly and severally against […]