Unit Titles Act 2010
The New Unit Title Act 2010 comes into effect on the 20th June 2011. Are you ready as a Vendor, or Agent with the requirements of Disclosure on your Unit Property Transfer?
Types of Disclosure : Part 1
Pre-Contract Disclosure – Prior to a Purchaser entering into an Agreement for Sale and Purchase the Vendor must provide the following information:
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The amount of body corporate levies.
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The period covered by the levies.
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What the proposed levies are for the next 12 months.
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Any maintenance scheduled for the next 12 months and how the body corporate plans to meet the costs.
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Balances of all bank accounts held by the body corporate, at the date of the last financial statements.
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A general explanation of terms relating to unit title property ownership.
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Whether the unit or common property is, or has, or will be the subject of a claim or proceeding under the Weathertight Homes Resolution Service or other relating water penetration.
Stay posted for part 2 on Disclosure coming Wednesday 15th June 2011.
Or if you have any questions contact your Property Conveyancing Experts @
http://www.propertyconveyancingservices.com
