WHAT IS A TORRENS TITLE?
Fundamentally all titles are Torrens titles. The name Torrens Titles came about because the first Real Property Act of 1836 was written for a system of titles designed and applied to South Australia by Sir Robert Torrens when he saw an opportunity to discard the old Westminster system bought to Australia in the beginning from England.
Today the words Torrens Titles are usually reserved loosely for all normal everyday titles for property in South Australia. Additionally, there can be different methods or titles to ownership of land not limited to but which include:
Leases and Underleases
Moiety titles and undivided share titles
Company titles with Share Certificates
Company titles with leases or underleases
There are also less than entirety titles with and without cross leases.
If the ownership of the land of the property you are purchasing is anything different to a whole of land title with the seller named and registered on the title you are purchasing it is important that you contact us as it will involve some further checking and processes which will incur additional costs.
Articles (Rules of a Strata Corporation)
Articles are the rules of the Strata corporation. While legal obligations under the Strata Titles Act cannot be avoided or changed, the articles are determined by the strata corporation itself. The articles bind the unit holders, tenants, and the strata corporation to an agreement regarding the use and upkeep of units and common property.
Schedule 3 of the Strata Titles Act sets out the articles for all strata corporations. If a particular strata corporation wishes to adopt its own articles or amend any number of its articles it can do so. However, a corporation cannot prevent a unit owner from selling or letting out a unit.
Meetings and Resolutions
A Strata corporation may hold a meeting of its members (a general meeting) anytime. This can be called by the secretary or any two members of the management committee or one fifth of the unit holders, or if it is the first meeting, the original registered proprietor.
Voting is on the basis of one vote per unit. At least 14 days written notice must be given to all unit holders before the meeting. A meeting must be held at least once every calendar year, and within 15 months of the last annual general meeting. A quorum is not less than half the units represented in person or by proxy.
Decisions of any meeting are made by three types of resolutions. The Strata Titles Act specifies the type of matters that require particular resolutions.
Bylaws (Rules of a Community Corporation)
The bylaws are created and registered at the time the Community Corporation is formed. This means that if you buy into an existing Community Development you will be bound by the Bylaws current at the time. The original bylaws may have been changed and this is a reason to ensure that your Conveyancer always check this issue.
Meetings and Resolutions (of a Community Corporation)
The information set out above for a Strata Corporation sets out the similar requirements.
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(08) 8270 5777
(08) 8272 3955
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9 AM - 5 PM
How to find us
Aberfoyle Park Shopping Centre
Shop 15, 150 Hub Drive
Aberfoyle Park, SA 5159