Giving the allocation
A body corporate can grant exclusive use over part of the common property (EU Area) to a lot in the Scheme.
For example, a car park or courtyard.
An owner of a lot with an EU Area can agree with another owner to allocate that to their lot (Agreed Allocation).
For example:
- Lot A with car space A can swap that with lot B for car space B; or
- lot A with car space A can allocate that to lot B.
To take effect, the details of the Agreed Allocation must be given to the body corporate.
Recording the allocation
Within 3 months, the body corporate must lodge a request to record a new community management statement (CMS), showing the Agreed Allocation, with the Titles Office.
The cost of the new CMS is borne by the body corporate.
If the new CMS is not lodged within time, the Agreed Allocation has no effect unless an adjudicator from the Commissioner’s Office extends the 3-month time limit.
For more information please check out Hynes Legal
Author: Hynes Legal
