Home ownership where sections of a building are owned by various owners.
A building that has been divided into a number of sections to be sold under Sectional Title in accordance with the Sectional Title Act No. 95.
Governed by the Sectional Title Act No. 95.
There are no limits to the number of sections in a scheme.
You own the section which has been purchased as well as undivided share in the common property.
Areas included in any section. Examples are as follows: driveways, gardens, paved areas, staircases, undercover verandas, parking bays, external walls, foundations and the roof.
The common property is owned by all the sectional title owners through the body corporate.
Body corporate is the legal term for the combined registered owners of all sections in a sectional title scheme.
All owners must belong to the body corporate A board is elected to manage their communal and general affairs. These individuals are called trustees.
Trustees are elected members of the body corporate and tasked to manage legal and communal affairs of the body corporate, eg. garden maintenance, buildings maintenance, security and to ensure that accounts are paid. They are elected at the annual general meeting (AGM).
Exclusive use areas are allocated exclusively to a specific section for its exclusive use, eg. an enclosed yard. Please note, in your scheme there are NO exclusive use areas.
Your PQ amount is the size of your section in relation to all the sections combined, eg. 50m2 in a scheme of 15 x 50m2 units equals to 1/15th or 6,7%.
A PQ is used to calculate the financial contribution of each owner towards:
Levies and special levies
Expenses incurred by the body corporate, eg. garden and building maintenance and security.
PQs are shown on the Sectional Plan of the Scheme.
Each owner contributes to a monthly amount known as a levy.
The levy is used to pay costs associated with the body corporate management expenses, such as building maintenance, building insurance premiums, garden services, security, a caretaker’s fee etc.
The levy has not been structured to provide for expenses and consumption charges of each individual unit. Individual rates and taxes, effluent contribution and all consumption charges, such as water and electricity will be for each owner’s own account.