Bill introduced to modernise unit titles law
The bill will bring existing legislation up-to-date and clarify the rights and responsibilities for both unit title owners and bodies corporate.
“The changes proposed will bring the legislation into the 21st century. The Unit Titles Act has not been reviewed since the 1970s and this has created a range of problems for people in unit title developments,” Building and Construction Minister Shane Jones said.
The new bill will address issues such as bodies corporate needing unanimous resolution before it can undertake tasks such as maintenance and spending, by reducing the voting threshold to 75%, and will also allow people to use mediation and adjudication through the Tenancy Tribunal to sort their disputes.
With multi-level building expected to become increasingly necessary, the Unit Titles Bill will help to streamline development processes and allow flexibility, which will mean up-front costs are reduced and developers can make changes to plans more easily.
“The proposed changes will provide broader and more adaptable ways of setting up and maintaining multi-level living, both now and in the foreseeable future,” Jones says.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.