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48 | Unit Title information
SHORT GUIDE TO UNIT TITLES – WHAT YOU NEED TO KNOW
First things first – about
unit title properties
What is a unit title? The body corporate may delegate some
of its duties and powers to a committee,
Unit title owners own a defined part of which is required to report back to the
a building, such as an apartment, and body corporate on its activities.
share common areas such as lifts,
lobbies or driveways with other owners. If a unit title property has more than
9 units, the body corporate must form a
Residential unit title properties are committee, unless it decides not to by
typically apartment blocks and special resolution (which requires 75%
townhouses. Commercial and industrial agreement).
types include office blocks, industrial or
retail complexes, and shopping malls. If it has 9 units or less, it can decide to
establish a committee by ordinary
This combination of individual and resolution (more than 50% agreement).
shared ownership of land and buildings
means owning a unit title property Who is the body corporate
involves a different set of rights and chairperson?
responsibilities than free-standing house
and land ownership. A chairperson must be elected by the
body corporate at the AGM. They do not
What is a body corporate? need to be on the committee but usually
When you purchase a unit, you are (though they will not necessarily also
automatically become a member of the be chair of the committee). The duties of
body corporate. All unit owners in a unit the body corporate chairperson include:
title property make up the body › chairing meetings, preparing agendas,
corporate, and they must hold an annual keeping records of minutes, and
general meeting, or AGM, once a year to administering resolutions
discuss body corporate matters. › keeping financial accounts and records
What is a body corporate › signing documents on behalf of the
committee? body corporate
› maintaining a register of unit owners.
A body corporate committee is a subset
of the body corporate and is elected by
the body corporate.
4 MINISTRY OF BUSINESS, INNOVATION & EMPLOYMENT
BFT015 DEC18
