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ARTICLE · 26 SEPTEMBER 2023

A balancing act: New termination process for uneconomic community title schemes

Holding Redlich
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Discuss the new process for bodies corporate to terminate an uneconomic Scheme & potential impacts on the property rights of lot owners.

AustraliaReal Estate and Construction
Robert Lyons
Robert Lyons
Thao Nguyen
Thao Nguyen
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The Body Corporate and Community Management and Other Legislation Amendment Bill 2023 (the Bill) introduced into the Queensland Parliament last month proposes a number of significant reforms to the Body Corporate and Community Management Act 1997 (Qld) (the Act).

One of the main policy objectives of the Bill is to deliver a key action of the Palaszczuk Government's 2022 Queensland Housing Summit, by reforming body corporate legislation to allow for the termination of an uneconomic community titles scheme (Scheme) to facilitate renewal and redevelopment.

We discuss the new process for bodies corporate to terminate an uneconomic Scheme and the potential impacts on the property rights of lot owners.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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