Y'all,
I have a question regarding Body corporates:
Assuming I own a unit in a 6 unit development. There must be a body corporate structure in place so that owners can resolve issues of common interest.
Now say I buy 2 more units and therefore have a 50% say in the workings of the BC. There may be occasions of a Mexican standoff where the other 3 owners are against my views and some sort of mediation may be required if no agreement can be reached.
Lets take it one step further and say I buy another one. Now I have a majority 4:2 ownership. Does my vote overrule the other two owners in issues of dispute? Do they have any form of recourse if I stand my ground?
And the last scenario - Assume I am the proprietor of all 6 units. Does that negate the need for a BC altogether? Is it an unnecessary burden and waste of money, or does it legally still need to exist? If so, What the hell do I do at meetings as the sole owner ?
Cheers
Pedro
I have a question regarding Body corporates:
Assuming I own a unit in a 6 unit development. There must be a body corporate structure in place so that owners can resolve issues of common interest.
Now say I buy 2 more units and therefore have a 50% say in the workings of the BC. There may be occasions of a Mexican standoff where the other 3 owners are against my views and some sort of mediation may be required if no agreement can be reached.
Lets take it one step further and say I buy another one. Now I have a majority 4:2 ownership. Does my vote overrule the other two owners in issues of dispute? Do they have any form of recourse if I stand my ground?
And the last scenario - Assume I am the proprietor of all 6 units. Does that negate the need for a BC altogether? Is it an unnecessary burden and waste of money, or does it legally still need to exist? If so, What the hell do I do at meetings as the sole owner ?
Cheers
Pedro