Review of the Unit Titles Act 2010
7 November 2016
The Minister for Building and Housing has asked the Ministry of Business, Innovation and Employment (MBIE) to undertake a targeted review of the Unit Titles Act (UTA), in response to a range of issues raised by stakeholders in May this year.
The review focuses on identifying the information required from bodies corporate by people looking to buy apartments, how to best resolve disputes that may arise, and the roles of bodies corporate and body corporate managers.
The review includes looking at issues to do with disclosure requirements, what needs to be included in Long Term Maintenance Plans, how Long Term Maintenance Plans should be funded and how disputes relating to unpaid levies or arrears should be resolved. MBIE are also looking at ways to help protect potential apartment owners, and how to ensure the UTA is ‘fit for purpose’ to support growth in high density living.
The MBIE review team has met with a range of stakeholders including body corporate chairs, body corporate managers, sector groups, property lawyers, and real estate companies as part of the review.
A discussion document is currently being prepared and will be released in due course.