Property Investing and Real Estate in South Africa - Sectional Title Series 4

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Sectional Title Series 4 - Ownership Responsibilities

This article is part 4 of our sectional title series where we are exploring sectional title ownership responsibilities. In this installment we will discuss some of the ownership responsibilities which should be carefully considered before purchasing an investment in such schemes. Hope, by now, you read about the Body Corporate Functions and Responsibilities, which will help with better understanding this article. Though sectional titles are controlled by the body corporate, which every owner is part of, it is important to understand that each individual owner and investor has responsibilities in a sectional title scheme. These responsibilities in a scheme extend to the following points: Obligations with regards to their Own Section Obligations in terms of the Management Rules Obligations in terms of the Conduct Rules Obligations in terms of Common Property In this article we will only discuss the responsibilities of an owner to their Section and to the Management Rules.
Read more at: Property Investor Network