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Marketing of sectional titles has changed dramatically. Buyers may be affected very negatively if schemes have not complied with the new legislation. Management of schemes have become very complicated.<\/p>\n
The sectional title and community scheme landscape has been drastically reshaped by new legislation. The Sectional Titles Schemes Management Act 8 of 2011 and the Community Schemes Ombud Service Act 9 of 2011 came into effect on 7th October 2016.<\/p>\n
Trustees and 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
Presenter : Christo Smith<\/strong><\/p>\n The most important innovations brought about by these Acts, together with their respective regulations, are the following :<\/p>\n \u2022 Registration of schemes with the Ombud Service (30 days from 7\/10\/2016);<\/p>\n \u2022 Monthly levies to be paid to the Ombud by every unit (90 days from 7\/10\/2016);<\/p>\n \u2022 Annual returns to be filed by every scheme;<\/p>\n \u2022 Prescribed management and conduct rules;<\/p>\n \u2022 Specified amounts to be held in reserve funds;<\/p>\n \u2022 Audited financial statements;<\/p>\n \u2022 Maintenance plan drawn and lodged annually;<\/p>\n \u2022 Dispute resolution procedures;<\/p>\n \u2022 Voting rights and resolutions;<\/p>\n \u2022 Duties and liability of managing agents;<\/p>\n \u2022 Fidelity insurance;<\/p>\n \u2022 Clearance certificates;<\/p>\n \u2022 Penalties and interest.<\/p>\n Please book your seat by e-mail to veritas@csprok.co.za or contact Idette at 013 753 3187 \u2013 seating is limited.<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Marketing of sectional titles has changed dramatically. Buyers may be affected very negatively if schemes have not complied with the new legislation. Management of schemes have become very complicated. The sectional title and community scheme landscape has been drastically reshaped by new legislation. The Sectional Titles Schemes Management Act 8 of 2011 and the Community […]<\/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-533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"\n