Lot entitlements under the Body Corporate and Community Management Act 1997 |
The current lot entitlements system provided under the Body Corporate and Community Management Act 1997 has caused a great deal of anxiety for many lot owners in Queensland. The government is therefore moving to ensure there is as much certainty around body corporate costs as possible by introducing a new lot entitlements system.
The Body Corporate and Community Management Amendment Bill 2010 proposes to amend the Act to provide several principles for the setting of contribution schedule lot entitlements and limiting the ability to adjust contribution schedule lot entitlements. For community titles schemes established before the commencement of the Bill, it is proposed to provide lot owners with an opportunity to revert the contribution schedule lot entitlements for each lot in the scheme to their original settings prior to any adjustment orders.
Owners in community titles schemes and other interested individuals and organisations are invited to make a written submission on the draft Bill and Explanatory Notes. Submissions closed on 23 September 2010.
Last reviewed 25/03/2011 |
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