What is a Body Corporate?

A Body Corporate is the legal entity that automatically comes into existence at the time of the depositing of the necessary documents relating to a new Unit Title complex at the Land Registry Office following the completion of the construction of the Units. Each Body Corporate is comprised of all of its Unit Owners.

The main functions and obligations of a Body Corporate and its Unit Owners are set out in the Unit Titles Act 2010 ("the Act") and the Unit Titles Regulations 2011 (“the Regulations”). These include requirements for the Body Corporate to insure all of the buildings in its name; to control, manage and administer the common property and keep it in a state of good repair and to do all things reasonably necessary for the enforcement of its Rules.

A Body Corporate is also the best source from which to obtain the necessary information to be provided by Sellers of Units who are obligated under the Act to provide Pre-Contract Disclosure Statements, Pre-Settlement Disclosure Statements and (if requested by a Purchaser) Additional Disclosure Statements. These Statements are also required to fulfill the obligations of Sellers of Units under a standard Sale & Purchase Agreement. The Statements give comprehensive details relating to the Unit being sold and about Bodies Corporate generally.

An independently and professionally administered Body Corporate is essential in order to maximise the opportunities to maintain and enhance the value of the Units. In addition, on-site living will be more assured and pleasant for Resident Unit Owners and Occupiers and there will be peace of mind for Unit Owners who let their Units to Tenants.

Please contact us for further information.

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