Posted by WKH on 25 Feb 21
Common property and Exclusive Use Are:
All owners jointly own the land itself as well as the common property.
Common property comprises areas like staircases, lifts, corridors, roads, entrance area etc.
Exclusive use areas are for example carports, storerooms which are used solely by the individuals entitled to use them
The Body Corporate
The Body Corporate is responsible for the control, administration and management of the scheme. All the owners of the units in a scheme form part of the Body Corporate. At an annual general meeting of all the owners, trustees are elected to carry out the day to day running of the scheme. The duties of trustees are:
Â·Ensuring levies are collected on time
Â·Arranging regular annual general meetings
Â·Running the sectional scheme effectively
Â·Making sure owners and tenants comply with the schemeâs rules
Â·Making sure that the scheme buildings and assets are insured
Â·Raising special levies when unforeseen expenses occur
Â·Making sure the common property is well maintained
Every owner makes monthly monetary contribution to a fund for general expenses of the scheme
Paying your monthly levy is not an option, it is an obligation by law, and failing to pay the levy could result in legal action against the owner. The whole sectional title scheme could lose value if some of the owners do not pay their levies
There is no provision in the Sectional Title Act or prescribed rules that gives an owner the right to withhold duly raised levies to set-off a debt believed to be owed to him by the body Corporate.
When looking at purchasing a unit in a Sectional title schemeâ¦.
It is in your best interest to insist that the estate agent furnishes you with the following information:
Â·The rules governing the scheme
Â·The names of the trustees of the Body Corporate and managing agents
Â·The amount of levy payable in respect of the unit and whether any increase is anticipated
Â·The extent to which the Body Corporate has made provision for future maintenance of the scheme
Â·Financial statements of the Body Corporate
All the information published on this website, or in any article herein is true and accurate to the best of the authors' knowledge. Information on this site should not be a substitute for legal advice. No liability is assumed by Property News Namibia, or individual Property News Namibia employees for losses suffered by any person or organisation relying directly or indirectly on information published on this site. Views expressed in any article are the views of the authors individually and do not necessarily reflect the view of Property News Namibia or their employees.
Information appearing on this site may only be reproduced with prior approval from Property News Namibia, and credit being given to the source.
Â© Property News Namibia 2021.