Strata Management
&
Strata Titles
Navigating the complexities of strata property ownership requires specialized knowledge and experience.
Whether you're dealing with the formation of a Joint Management Body (JMB) or the termination of a strata subdivision, having a dedicated strata lawyer by your side can ensure that your rights are protected and that you comply with all relevant regulations.
Formation of Joint Management Body (JMB)
A Joint Management Body (JMB) is established by developers and property purchasers to manage and maintain a building before a Management Corporation (MC) is formed.
This typically occurs in the early stages after property handover. A strata lawyer can assist in ensuring that the formation process is legally sound and that the JMB operates in compliance with the Strata Management Act.
Formation of Management Corporation (MC)
Once strata titles are issued to individual property owners, a Management Corporation (MC) is formed to take over from the JMB.
The MC is responsible for the ongoing management of the property, and its members are elected from the strata owners. Legal guidance is crucial during this transition to ensure smooth operations and adherence to statutory obligations.
Charges and Contribution to Sinking Funds
Property owners are required to make financial contributions for the upkeep of common areas and future capital expenditures. The sinking fund is reserved for long-term maintenance and repairs.
A strata lawyer can advise on the appropriate calculation and collection of these charges, ensuring transparency and fairness.
Usage of Monies from the Maintenance Account and Sinking Fund Accounts
Funds from the maintenance account are used for routine repairs and upkeep, while the sinking fund is allocated for significant expenditures like structural repairs.
Legal expertise can help in overseeing the correct and lawful usage of these funds, safeguarding the interests of all property owners.
AGM or EGM Procedures
Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) are crucial for making decisions about the management and maintenance of the property.
These meetings involve sending out notices, setting agendas, and voting on resolutions. A strata lawyer can ensure that these procedures comply with legal requirements, avoiding disputes and challenges.
Vote by Hand or Poll
Decisions at AGMs or EGMs can be made either by a show of hands or by a poll, where votes are counted based on the share units of each owner.
Legal advice can be invaluable in determining the most appropriate voting method and ensuring the accuracy and fairness of the voting process.
Share Units
Share units represent the proportion of ownership each strata owner has in the common property. They determine voting power and contributions to maintenance and sinking funds.
A strata lawyer can assist in clarifying ownership rights and obligations based on share units, preventing potential conflicts.
Uniform Rates or Different Rates of Charges
Strata owners may be charged uniform rates or different rates based on the size or usage of their units, typically determined by share units.
Legal counsel can help establish and enforce these rates, ensuring they are applied consistently and fairly across all owners.
Subsidiary Management Corporation (SMC)
In complex strata developments, especially mixed-use properties, a Subsidiary Management Corporation (SMC) may be formed to manage specific parts of the development.
A strata lawyer can guide the formation and operation of an SMC, ensuring that it functions effectively within the broader management framework.
Raise Charges or Capex
Raising maintenance charges or capital expenditures often requires the approval of a majority of strata owners through a vote.
Legal advice is essential to navigate the approval process, ensuring compliance with legal requirements and protecting the interests of all parties involved.
Prescribed By-laws and Additional By-laws
Prescribed by-laws are standard rules governing the use of common property and individual units. Additional by-laws can be created by the MC or JMB to address specific issues within the strata community.
A strata lawyer can draft, review, and enforce these by-laws, ensuring they are legally binding and effectively address community needs.
Perfection of Strata Titles
Perfection of strata titles refers to the legal process of transferring ownership from the developer to individual purchasers once all conditions are met.
A strata lawyer can oversee this process, ensuring that all legal requirements are satisfied and that ownership is duly registered.
Strata Titles Amendments
Amendments to strata titles may involve changes to common property, the allocation of share units, or other significant modifications to the original strata plan.
Legal expertise is crucial to manage these amendments, ensuring they are executed in compliance with the law.
Strata Titles Due Diligence
Before purchasing or managing strata property, due diligence is necessary to verify legal, financial, and physical aspects of the strata titles.
A strata lawyer can conduct thorough due diligence, providing you with the information needed to make informed decisions.
Enbloc / Collective Sale of Strata Parcels
An enbloc or collective sale involves selling all units in a strata development, usually to a developer. This requires the consent of the majority of owners.
Legal guidance is critical to navigate the complex process, ensuring that all legal requirements are met and that owners' rights are protected.
Termination of Strata Subdivision
Termination of a strata subdivision involves dissolving a strata scheme, which may occur if the property is no longer viable or if an enbloc sale is agreed upon.
A strata lawyer can manage the legal aspects of termination, ensuring a smooth and compliant process.
Contact Us for Expert Strata Legal Services
If you are involved in any aspect of strata property ownership or management, it’s essential to have experienced legal representation.
Our strata lawyers specialize in all facets of strata law, ensuring that your rights are protected and that you comply with all legal obligations.
Contact us today to learn how we can assist you with your strata property needs.