Owners Corporation Act -Property affected by it!

Hi Guys,

I was going through sec 32 of the property-it says under sec 6 "The land is affected by the owners corp. act 2006, however an owners corporation has not been established. This will be constituted upon registration of the plan of subdivision and before settlement"

To me-it appears like - property (the lot) is affected by owner corp-which has yet to be established and ---
Could someone provide more insight into this?

I called agent-as per agent the lot sits on separate title and is not affected by owner corp. and he is ready to confirm it in writing. Where as upon my physical inspection of the lot it seemed as if the property has a back shared pathway (I think with one other lot as it is the only other lot that has gate opening to this shared pathway). However this lot has been there for quite sometime i.e not recent subdivision so wonder what they are talking about 'registration of subdivision' As the lots had been there for so long, if any such thing was there - it should have been done already- your thoughts-

I do believe shared pathway with two lot means some exemptions- any ideas as to what would need to be done? costs and all- i am not sure if it worth all the hassle of setting up some committee and all!

 

It's the end of the world - auto-magically created entities which will eat my returns.

AGM = Beer & BBQ with neighbour on the Footy Final weekend, someone has to be sober enough to write up the minutes.

 

I would like to thank you for this and as well as for all your other ---hundreds of helpful post on this forum.

You my dear friend, are making difference!