From: Phillip Jacovelli
Advice requested
One of my IP’s is in a block of three in a strata title that includes common areas - I have the plan of subdivision and subdivision number.
There is no formal body corporate in place, or more to the point, no formal body corporate manager been appointed - and talking with the other two owners I don’t think we need to go through the formalities as the block is very low maintenance.
This is a question of insurance, for Building insurance and Public liability insurance – is this all captured by the one insurer, (and split three ways)? I have been told that if we were to take out individual policies the insurers will take our money but we would be exposed. True or False?
…and how do I find out what the registered body corporate number is for the subdivision – if any?
Thanks
PJ
Advice requested
One of my IP’s is in a block of three in a strata title that includes common areas - I have the plan of subdivision and subdivision number.
There is no formal body corporate in place, or more to the point, no formal body corporate manager been appointed - and talking with the other two owners I don’t think we need to go through the formalities as the block is very low maintenance.
This is a question of insurance, for Building insurance and Public liability insurance – is this all captured by the one insurer, (and split three ways)? I have been told that if we were to take out individual policies the insurers will take our money but we would be exposed. True or False?
…and how do I find out what the registered body corporate number is for the subdivision – if any?
Thanks
PJ
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