Section 109 Certificate - Strata Property

20/09/2010

A Section 109 Certificate is a certificate issued by the Owners Corporation of a Strata Scheme, containing detailed financial information about a specific ‘lot’, and information about the management of the scheme.

A strata title owner, or mortgagee, can apply in writing for a Section 109 Certificate, which involves paying a fee to the Owners Corporation. The certificate must be issued within 14 days of the request.
The information typically includes:

•   the names and contact details of Executive Committee members (including the Strata Management agent if relevant)
•   insurance details
•   the levy contributions to be made by owners (ie. administration fund and sinking fund levies)
•   any outstanding levies or fines
•   details about relevant by-laws that have been made recently
•   any other relevant information

The NSW Strata Schemes Management Act 1996 and the NSW Strata Schemes (Freehold Development) Act 1973  contains the information relating to Section 109 Certificates.
Watson & Watson strata lawyers can assist you to understand the information contained in a Section 109 Certificate.

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