Owners corporations
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Lodging a plan of subdivision at Land Victoria with an owners corporation
Owners of flats, apartments or units are usually members of an owners corporation, previously known as a ‘body corporate’. All bodies corporate became owners corporations on 31 December 2007, when the Owners Corporations Act 2006 took effect. Land Victoria registers and records owners corporation applications received either with the plan of subdivision or separately. Consumer Affairs Victoria is the governing body for all other owners corporation matters. All owners corporations have statutory duties and powers set out in the Owners Corporation Act 2006. When land or buildings are subdivided, it is often necessary to provide for shared ownership of walls, services, driveways or common property. Owners corporations manage all these assets in residential, commercial, retail or mixed use developments. If land or part of a building is set aside for common property or creates shared services in a plan of subdivision, an owners corporation must be created. A person who owns property in an owners corporation automatically becomes a member of that owners corporation and as a member, has legal and financial responsibilities to the owners corporation.
Lodging a plan of subdivision at Land Victoria with an owners corporationA plan of subdivision lodged at Land Victoria may create a single or multiple owners corporation. An owners corporation sets out the responsibilities for the maintenance and administration of the land affected by that owners corporation. Any notations or responsibilities set out in the owners corporation additional information document must be identical to those set out on the certified plan. Go to the forms, guides and fees webpage for guides and the material required for lodgement at Land Victoria in relation to:
More information on owners corporations can be found at Consumer Affairs Victoria. Topics covered include insurance, rules and meetings, complaints and disputes, and resolutions or decision making issues. To track subdivision plans and owners corporation dealings from lodgement to registration, go to the LANDATA® website.
Lot entitlements and lot liabilitiesResponsibilities are set out in the plan of subdivision and usually spread among the property owners based on lot entitlements and lot liabilities.
Refer to Your guide to lodging an accompanying document for a limited or unlimited owners corporation. These entitlements and liabilities are determined by the developer in conjunction with the licensed surveyor before lodgement at Land Victoria.
Which owners corporation form do I need?If you are having trouble deciding which owners corporation form to lodge with your subdivision, please refer to the owners corporation schedule attached to the certified Plan of Subdivision. Further information is available from a licensed surveyor or Consumer Affairs Victoria.
Common propertyCommon property includes any parts of the land, buildings and airspace that are not lots, roads or reserves on the plan of subdivision. It may include gardens, passages, walls, pathways, driveways, stairs, lifts, foyers and fences. Floor coverings and fixtures within a lot are usually the property of the lot owner. The common property is collectively owned by the lot owners.
Unlimited owners corporationThe functions and powers of an unlimited owners corporation relate to the maintenance and administration of common property and/or common services. Limited owners corporationOwners corporations may be limited or limited to common property. The limitations that apply to a limited owners corporation are set out on documents referred to in the Owners Corporation Search Report. Functions or obligations of a limited owners corporation may be carried out or complied with by an unlimited owners corporation. Multiple owners corporationsThese are most common in large, multistorey buildings, commercial properties, or developments that combine residential and non-residential lots. Properties with more than one owners corporation will usually have an unlimited owners corporation, which owns the common property or one or more limited owners corporations, and may apply to only some of the lots. Multiple owners corporations give groups of lot owners access to and responsibility for certain parts of the common property.
RulesAll owners corporations have rules for the control, management, use of common property and lots. The rules cover day-to-day issues such as parking and noise. If an owners corporation does not make its own rules, a set of model rules outlined in the Owners Corporations Regulations 2007 (Schedule 2) applies. If an owners corporation is making its own rules, they must be registered with Land Victoria. Otherwise the rules are not enforceable and the model rules will apply.
Further adviceA licensed surveyor, solicitor or conveyancer familiar with subdivisions containing owners corporation(s) can advise you on how to lodge dealings that affect owners corporations or alter common property.
Useful contactsConsumer Affairs Victoria (www.consumer.vic.gov.au) Real Estate Institute of Victoria (www.reiv.com.au) Land Victoria (www.dse.vic.gov.au/property) LANDATA® (www.landata.vic.gov.au) Law Institute of Victoria (www.liv.asn.au)
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