Glossary of Terms
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BCCMA: Body Corporate and Community Management Act 1997.
Body Corporate: Is the legal entity created when land is subdivided and registered under the Land Titles Act 1994 to establish a community titles scheme with all owners automatically members.
Body Corporate Manager: The person engaged by the body corporate for a maximum three year term to supply administrative services, whether or not the person is also engaged to carry out the functions of the committee.
Building Format Plan (BFP): Is a form of subdivision usually of a building which defines the land using structural elements of the building including, for example, floors, walls and ceilings. The type of plan that a community titles scheme may record can also impact on maintenance issues.
By-Laws: Are the rules and regulations contained in the Community Management Statement which regulate and govern the behaviour of residents.
Committee: The representatives of the body corporate elected each year at the Annual General Meeting delegated the responsibility to handle day-to-day administration of the body corporate. Depending on the size of the scheme, the Committee comprises of not less than 3 and not more than 7 members.
Common Property:
Common property, for a community titles scheme is, effectively, freehold land forming part of the scheme land, but not forming part of a lot included in the scheme and may also include utility infrastructure. To correctly identify what parts of scheme land are common property and what parts of scheme land are individual lots, a copy of the relevant survey plan for the scheme should be obtained.
Community Titles Scheme: Comprises of the recorded community management statement identifying the scheme land together with the land which must consist of 2 or more lots and common property.
Community Management Statement: Is the document that identifies the scheme land and is held in the Land Registry of the Department of Natural Resources and Water. This document also includes the name of the scheme, the regulation module applying to the scheme, lot entitlement schedules and by-laws.
- Contribution Schedule Lot Entitlement: The number allocated to a lot in the Contribution Schedule which determines: A lot owners share of body corporate expenses excluding building insurance.
- The value of a lot owners vote on an ordinary resolution if a “poll” is requested.
Exclusive Use By-Law: A By-law which attaches to a lot within a scheme and gives the occupier of that lot exclusive rights or enjoyment (or special rights) to a part of common property or body corporate assets.
- Interest Schedule Lot Entitlement: The number allocated to a lot in the Interest Schedule which determines: A lot owners share of the Building Insurance premium (although the Act or Regulations may provide for premiums to be divided in a different way).
- Each owners share of the common property and body corporate assets if the scheme is terminated.
- Each owners share of the unimproved value of the scheme land for the purpose of calculating local government taxes and charges.
Lot Entitlement: Initially determined by the original owner of the scheme, there are two schedules of lot entitlements which, broadly described, are used to calculate a lots owner’s proportion of body corporate expenses and the building insurance premium . There are mechanisms available to amend lot entitlements.
Management Rights: Broadly describes the contract between the Body Corporate and the Resident Manager to perform the Caretaking and Letting services for the body corporate for a maximum duration of 25 years.
Original Owner: The person(s) who is the registered owner of the land immediately before the establishment of the scheme, which occurs upon registration of documentation at the Titles Office.
Resident Manager: The term used to describe the person(s) engaged to perform the Caretaking/Letting services for the body corporate in accordance with the terms and conditions in the Caretaking/Letting Agreements. Generally operated from either the manager’s lot or office within the scheme land.
Regulation Modules: Presently four modules which govern different types of schemes being:
- Standard Module - Highly regulated and suited predominately for owner/occupier.
- Accommodation Module - Less regulated and designed for schemes with predominately investment owners.
- Commercial Module - Some regulation designed for business premises.
- Small Schemes Module - Little regulation, designed for schemes with 6 lots or less.
Standard Format Plan (SFP) : A standard format plan is the subdivision of land horizontally with reference to defined marks such as survey pegs. The boundaries of a lot in a SFP are defined by dimensions shown on the survey plan along with marks placed on the ground at the time of the survey.
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