The registration of a plan of subdivision in a complex – an industrial, commercial, retail, residential or combined-use complex – automatically creates an ‘owners corporation’ (previously known as a ‘body corporate’).
An A body corporate created by registration of a plan of subdivision or a plan of strata or cluster subdivision. See also prescribed owners corporation. can be created if the plan of subdivision has common property or not. If the plan does not have common property, it usually contains common services. A plan of subdivision may also state that owners of all or some of the lots must be members of the owners corporation.
Common property is held by the registered owners of individual lots as A form of joint ownership in which two or more people own property. Each person has their own separate share, and that share of the property can be left in a will. Compare with joint tenants. and usually includes gardens, walkways, foyers, storage areas, elevators, stairs, driveways, and communal facilities such as gymnasiums, swimming pools, recreational areas, meeting rooms and air space.
An owners corporation has Found in a statute of delegated legislation. For example, a statutory authority or body is aperson or organisation that has special powers given by parliament to do work for the public benefit. rights and obligations for:
- the welfare and Money paid to a person to financially support them. When a couple has separated both parents have a duty to support their children, and a court can order a parent to make regular payments to support the children. Maintenance for a spouse is now less common, and must be applied for within 12 months of a divorce. It is usually covered in a final settlement of all property. of the common property; and
- the owners and tenants who have a legal interest.
This chapter focuses on the rights and responsibilities of people working and living in these communities and the dispute resolution processes that are available.