Management Rights and Advisory Service

Development of Management Rights

Development of Property Management Rights?

Property Management Rights Brisbane

Prior to the coming into existence of the individual lots or units, there is generally a single parcel of land, owned by one entity, upon which there may be one or more buildings. A plan is prepared which subdivides that land and building or buildings into the individual lots or units. In the case of a highrise complex, that plan will be a Building Format Plan. It will create titles for the individual units within the building. In the case of a townhouse complex, the plan will usually be a Standard Format Plan. It will create titles for lots comprising land and buildings for the individual townhouses.

The plan, be it a Building Format Plan or a Standard Format Plan, will be lodged in the Titles Office along with a document called a Community Management Statement which sets out unit voting and other entitlements and the By-laws (rules) for the complex. When it registers, there will come into existence a separate title for each individual unit or lot shown on that plan. The plan will also show areas of common property - that is areas of the original piece of land or areas within the building or buildings on that land that do not become an individual lot or unit, for example - lawns and gardens, swimming pool areas, stairwells and the like. Each lot or unit owner in effect owns a part of the common property. Together the common property is owned by the individual lot or unit owners collectively as the Body Corporate.

About Mahoneys

Mahoneys has an enviable reputation for its service to clients and for the competence of its partners and staff who offer expert services in Management Rights Law, Business and Commercial Law, All aspects of Property Law. One of their major areas of expertise is in the field of management rights.