Property Investing and Real Estate in South Africa - Body Corporate in Sectional Title Scheme

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Body Corporate in Sectional Title Scheme

Every person that owns a section in a sectional title scheme is part of the Body Corporate. Therefore, the body corporate is comprised of the owners in a sectional title scheme. Being a member in the Body Corporate in a sectional title scheme is not optional, but automatic. Once the section is registered to an owner, the owner automatically become part of the Body Corporate. Therefore, it is also understood that once the sectional title unit is registered to a new owner the previous owner is NO longer a member of the Body Corporate. The interesting part is that the law sees the Body Corporate as a separate legal entity, just like a company, trust or close corporation the Body Corporate is also a legal entity by itself.
Read more at: Propert Investor Network