Sally recently purchased a unit titled apartment.  After hearing from a neighbour that the Unit Titles Act 2010 was going to be changed again, Sally was concerned. She wondered how the changes would affect her…

Sally’s neighbour is correct that a Bill aimed at clarifying and streamlining aspects of the Unit Titles Act 2010 (“the Act”) recently passed its third reading in Parliament.  It should be passed into law shortly.

The changes, however, are minor from the point of view of those owing and living in unit titled properties so are nothing to be concerned about.

One change which may be of interest to some is:

For those selling or buying unit titled properties, there has been an amendment to the section of the Act that relates to “additional disclosure” which enables buyers to select which documents they require as part of confirming whether they will go ahead with a purchase.  Currently, when a buyer requests additional disclosure the relevant Body Corporate charges one fee for providing a list of documents and there is generally no ability to only pay for or produce one or two documents, if that is all that is needed.

The Bill has changed this so that buyers can request individual documents (rather than all documents available) and can pay for those documents individually.

The effect of this is that buyers will face reduced costs and Bodies Corporate will have to deal with only the specific paperwork requested by the buyer.