Draft legislation expected to be introduced to the Queensland parliament within months will allow body corporate schemes of unit complexes to be terminated with the support of 75 per cent of title holders.
Marino Law partner, Andrew Taylor said similar legislation in New South Wales, on which he expected the Queensland laws to be modelled, required bodies corporate to submit sales and redevelopment proposals to be voted on as part of the winding-up process.
Mr Taylor said the sector expected the proposed reforms would strike a balance between the interests of developers and those of residents who did not want to sell their homes.
“The current process is clunky and it does need reform,” he said.
For the full article click here: https://www.abc.net.au/news/2023-07-14/qld-body-corporate-law-reform-unit-owners-fear-being-forced-out/102367490?fbclid=IwAR3ubdS0RwnSgGYvQ_xdTWmLzxCGu0LimbZNlsdlwW9rvqKyBmTy_RxSHDs
