Body Corporate Law Reform – How does it impact unit owners?
On 1 December 2022, amendments were made to some key body corporate legislation. These amendments aim to modernise the Building Units and Group Titles Act 1980 (Qld) (BUG Act) and Mixed Use Development Act 1993(Qld) (MUD Act), by mirroring the recent amendments made to Queensland’s main body corporate legislation, the Body Corporate and Community Management Act 1997 (Qld) (BCCM Act)....
Building Management Statement – What are they?
Changes to the Real Estate Institute of Queensland (REIQ) contracts have come into effect for residential unit purchases. A buyer’s method of terminating a contract now includes failure to register an interest. It is important for buyers, sellers and body corporates to understand what a building management statement is and how it...