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Understanding Body Corporate Disclosure Statements
In Queensland, the law mandates that sellers of lots in community title schemes provide a disclosure statement to prospective buyers before entering into a contract.
Home » Legislation » What’s changing in the Body Corporate and Community Management Act
On 24 August 2023 the Queensland Parliament introduced the “Body Corporate and Community Management and Other Legislation Amendment Bill 2023” (Bill).
The Bill intends to make changes to the Body Corporate and Community Management Act 1997 (BCCMA) to deliver improvements to, and modernise the operation of, the BCCMA. The proposed changes will affect many day-to-day arrangements for bodies corporate in Queensland.
A summary of the proposed changes include:
The proposed legislation includes:
The proposed legislation seeks to allow a body corporate to tow an owner or occupier without needing to follow the prescribed by-law enforcement process.
The proposed legislation:
The proposed legislation:
The proposed legislation:
The proposed legislation allows greater flexibility in seeking approval for insufficient insurance to an adjudicator.
The proposed legislation allows a body corporate to change its financial year by passing an ordinary resolution (but can only do so once every 5 years).
There are also some changes currently being considered by the Queensland Parliament, to other property legislation, that will impact bodies corporate – including changes to what needs to be disclosed to potential buyers, and restrictions on sunset dates for off the plan sales contracts.
The next chapter in the BCCMA will now depend on whether the draft legislation is passed by parliament.
Feel free to contact our dedicated body corporate team if you have any questions about the changes.
In Queensland, the law mandates that sellers of lots in community title schemes provide a disclosure statement to prospective buyers before entering into a contract.
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