Tiers
A tiered classification of owners corporations has been introduced which is based on the number of occupiable lots affected by it.
Classification of owners corporations into...
The Owners Corporations Act 2006 is amended with the changes taking effect from 1 December 2021. Some of the changes include the following.
Creating five tiers...
In Victoria the most common form of communal title is an owners corporation, formerly called a body corporate.
Other forms of community titles include:
Company share scheme
Stratum...
In addition to paying fees and charges, and observing the rules members have an number of other obligations including the following
A member is required:
to maintain...
As with any community an owners corporation requires rules to balance the obligations and rights of owners and occupiers of lots.
There are prescribed Model Rules...
