Ownership during Settlement in WA

Discussion in 'Legal Issues' started by Shogun, 14th Feb, 2020.

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  1. Shogun

    Shogun Well-Known Member

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    Who owns property during settlement in WA?
    Who if any would have voting rights at a Strata AGM?
    About 3 weeks into settlement or after offer was made if that matters.
     
    Last edited: 15th Feb, 2020
  2. kierank

    kierank Well-Known Member

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    Give you a clue - who pays the council rates for that period?

    The seller is my answer.
     
  3. Shogun

    Shogun Well-Known Member

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    You would no longer have a clear title? Can you still get a Certificate of Title from Landgate. Your intention is clear you no longer want ownership. The outcomes effect the new owner.

    Certificate of Title determines ownership.
     
    Last edited: 15th Feb, 2020
  4. kierank

    kierank Well-Known Member

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    So what!!!

    The buyer is not the owner until settlement. It is my understanding that they have no voting rights until the property settles. They wouldn’t be on the Owners Register until then.

    Who do you think pays the strata fees up until settlement?

    Who pays the fees has the right to vote.
     
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    A title search would still show the vendor sad owner.

    A buyer may have an insurable interest in the property (Qld requires the purchaser to effect insurance during settlement).

    Voting rights stays with the vendor however if the decision of the body corporate will affect the purchaser, they should attend the AGM who for special levies.
     
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  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    Legal owner is seller until title transfer they are also likely to be the beneficial owner too until settlmennt unless contract says otherwise
     
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  7. Shogun

    Shogun Well-Known Member

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    Thanks.
    The voting rights seem a bit wrong to me. I guess it is what it is
     
  8. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    As far as I know it's still the seller. They could go to AGM and agree to $3m special levy if they wanted
     
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  9. kierank

    kierank Well-Known Member

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    Wait until it is your time to sell.

    Then you might agree the the voting system is a bit right ;).

    How would you feel if your buyer had voting rights over your property?
     
  10. Shogun

    Shogun Well-Known Member

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    Well in this case 2 brothers/developers have majority so got their way. They could have waited a week for AGM and new owner could have voted this year. After the sale they only have 50% of the vote.

    But I see your point. At the least the new owner could have been invited to comment and not vote giving other voters something to think about before casting a vote.

    The buyer is going to own the property. The owner can't stop sale from progressing. What could happen during settlement to stop sale/transfer from happening?

    The STA in WA requires 2 weeks notice of a meeting. This was rushed with 8 days notice.

    I just wanted to learn about who had ownership and hence votes. In this particular instance it doesn't pass my pub test but ymmv

    Maybe no one should get a vote during settlement but ymmv and the Law is the Law.
     
    Last edited: 15th Feb, 2020
  11. lixas4

    lixas4 Well-Known Member

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    Whats happened?
     
  12. wylie

    wylie Moderator Staff Member

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    Yes... what did they vote on to "get their way"?
     
  13. Shogun

    Shogun Well-Known Member

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    The reality is they had 4/6 votes and could do what they like and have for past 12 years. Next AGM they will be 3/6 votes.

    They blatantly disregard the Strata Title Act. I wasn't even invited to or informed the AGM.
    This thread cleared up the ownership/vote issue.
    I will investigate other issues.

    Pro Tip. Don't buy in a 6 Strata complexe even if the selling RE assures you their is no Strata management required. Stick with 5 or less.
     
  14. kierank

    kierank Well-Known Member

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    You asked the question :p.

    Seller dies :eek:.
     
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  15. Shogun

    Shogun Well-Known Member

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    Then he/she won't be fussed on how "their" vote was cast
     
  16. kierank

    kierank Well-Known Member

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    ... and I believe the contract becomes null and void, property goes to their Estate, buyer misses out, ...

    Buyer could die, contract becomes null and void, property says with vendor, the vendor would be fussed on how their vote was cast, ...
     
  17. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    Not necessarily. the standard contract in NSW for example continues despite death of either buyer or seller. But this is often modified by special conditions.
     
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  18. kierank

    kierank Well-Known Member

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    And if they both pass?
     
  19. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    A mexican standoff?

    Their estates are still bound under contract. But issues will arise because probate takes months to obtain and no one can act during that time - no one has any legal authority until appointed by the courts.
     
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