{"id":516,"date":"2022-06-07T11:59:43","date_gmt":"2022-06-07T11:59:43","guid":{"rendered":"https:\/\/csprok.co.za\/?p=516"},"modified":"2022-06-13T12:22:32","modified_gmt":"2022-06-13T12:22:32","slug":"seminars-sectional-title-and-schemes","status":"publish","type":"post","link":"https:\/\/www.csprok.co.za\/af\/seminars-sectional-title-and-schemes\/","title":{"rendered":"Seminars : Sectional Title and Schemes"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px||true|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; header_2_font=&#8221;|||on|||||&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"gdlr-blog-content\">\n<p style=\"text-align: justify;\">Seminars will be presented countrywide\u00a0from March 2017 on the new\u00a0Sectional Titles and Community Schemes legislation. <strong>Dates soon to be announced at\u00a0<\/strong><span style=\"color: #0000ff;\">www.csprok.co.za<\/span>.<\/p>\n<p style=\"text-align: justify;\">Whilst some legislation only impacts\u00a0sectional title schemes and contain various new provisions, other legislation applies to all \u201ccommunity schemes\u201d. A community scheme includes any form of ownership where there is a shared use or some form of common property. All golf estates, retirement villages, share block\u00a0companies, or any other form of\u00a0shared ownership is\u00a0covered. Sectional Title schemes are\u00a0obviously included in this general statute.<\/p>\n<p style=\"text-align: justify;\">\u00a0The <em>Sectional Titles Schemes Management Act<\/em> 8 of 2011 and <em>the Community Schemes Ombud Service Act<\/em> 9 of 2011 came into effect on <strong>7<sup>th<\/sup> October 2016<\/strong>.<\/p>\n<p>Trustees, attorneys\u00a0and estate agents must know the critical aspects of the legislation, firstly to ensure compliance and secondly to avoid being held liable for negligence by sellers and purchasers when marketing property.<\/p>\n<p>The most important innovations brought about by these Acts, together with their respective regulations, are the following :<\/p>\n<ul>\n<li>Registration of schemes with the Ombud Service (30 days);<\/li>\n<li>Monthly levies to be paid to the Ombud by every unit (90 days);<\/li>\n<li>Annual returns to be filed by every scheme;<\/li>\n<li>Prescribed management and conduct rules;<\/li>\n<li>Specified amounts to be held in reserve funds;<\/li>\n<li>Audited financial statements;<\/li>\n<li>Maintenance plan drawn and lodged annually;<\/li>\n<li>Dispute resolution procedures;<\/li>\n<li>Voting rights and resolutions;<\/li>\n<li>Duties and liability of managing agents;<\/li>\n<li>Fidelity insurance;<\/li>\n<li>Clearance certificates;<\/li>\n<li>Penalties and interest.<\/li>\n<\/ul>\n<\/div>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seminars will be presented countrywide\u00a0from March 2017 on the new\u00a0Sectional Titles and Community Schemes legislation. Dates soon to be announced at\u00a0www.csprok.co.za. Whilst some legislation only impacts\u00a0sectional title schemes and contain various new provisions, other legislation applies to all \u201ccommunity schemes\u201d. A community scheme includes any form of ownership where there is a shared use or [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seminars : Sectional Title and Schemes - Christo Smith<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.csprok.co.za\/af\/seminars-sectional-title-and-schemes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seminars : Sectional Title and Schemes - Christo Smith\" \/>\n<meta property=\"og:description\" content=\"Seminars will be presented countrywide\u00a0from March 2017 on the new\u00a0Sectional Titles and Community Schemes legislation. Dates soon to be announced at\u00a0www.csprok.co.za. Whilst some legislation only impacts\u00a0sectional title schemes and contain various new provisions, other legislation applies to all \u201ccommunity schemes\u201d. 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