Let us help answer the many questions associated with Queensland’s Body Corporate & Community Management Act
As a body corporate search agency, we work with clients throughout South East Queensland. Our job is to contact body corporate managers and extract the vital information you are required to disclose in your sales contract. The disclosure statement we provide is complete and able to be inserted directly into the contract. We can supply these body corporate statements for any unit that’s part of a Queensland strata within South East Queensland.
It is mandatory to provide the buyer of a strata title property in Queensland a Disclosure Statement prior to signing the contract. This is legislation that comes under The Body Corporate & Community Management Act 1997 as amended in 2013. To view the Act, click here.
Look at your Insurance details on the second page of the Disclosure and make sure the Insurance is still current. If the Insurance has expired, you need a new Disclosure Statement.
Also, look underneath where the levies are quoted on the document and it will tell you the date of the end of financial year for that particular building. All buildings have differing end of years. The Annual General Meeting to strike levies for the following financial year are held about 3 months AFTER the end of financial year, so don't assume that because the end of financial year has passed, the new levies are available. Most Disclosure Statements completed by us refer you to the Owner Statement or Ledger Card attached to the document which states the levies (or Advance Levies as they are called) for either one or two periods of the following financial year so if your Disclosure Statement shows levies for the current period on the Owner Statement, in spite of the end of financial year having ended, then your Disclosure Statement is still valid.
There still seems to be some confusion over who signs the Section 206 Disclosure Statement prior to the sale of a strata title property. A few years ago, the Land Sales Act 1984 was amended leaving the governance of anything relating to the sale of strata title properties in Queensland under the umbrella of The Body Corporate & Community Management Act 1997. One of the changes made at the time was the requirement for the Seller (and ONLY THE SELLER) to sign the Disclosure Statement, not the agent.
We often find clients ringing or emailing us with questions regarding Disclosure Statements and the various intricacies of the Body Corporate & Community Act 1997 (as amended) and we’re proud to say that because our staff are legally trained, they’re able to provide concise, knowledgeable advice. It's all a part of our extended service at Holland Searches and yet we are still the most cost effective body corporate search agency in South East Queensland.