CONVEYANCING ROLE PLAYERS | THE BODY
CORPORATE AND MANAGING AGENTS
In our last post we looked at the role of municipality in the transfer process. This week we will look at the body corporate and managing agents in the transfer process.
THE BODY CORPORATE AND MANAGING AGENTS
Body corporates exist only in Sectional Title Schemes. Their function is to ensure the effective running and maintenance of the scheme. In certain instances, it is the managing agents who do this on behalf of the body corporate.
A sectional title unit cannot be transferred until a clearance certificate from the body corporate is obtained. This certifies that all levies are paid up and that no outstanding fees are due to the body corporate or managing agent. Where there is a managing agent in place the levy clearance certificate will be issued by this agen.
A common hurdle, when dealing with managing agents occurs when the managing agent changes its name, neglects to disclose this change and submits a certificate in the previous name. In this instance, the Deeds Office will reject the matter call for proof of change of name and request a new levy clearance certificate.
THE BODY CORPORATE AND MANAGING AGENTS
Body corporates exist only in Sectional Title Schemes. Their function is to ensure the effective running and maintenance of the scheme. In certain instances, it is the managing agents who do this on behalf of the body corporate.
A sectional title unit cannot be transferred until a clearance certificate from the body corporate is obtained. This certifies that all levies are paid up and that no outstanding fees are due to the body corporate or managing agent. Where there is a managing agent in place the levy clearance certificate will be issued by this agen.
A common hurdle, when dealing with managing agents occurs when the managing agent changes its name, neglects to disclose this change and submits a certificate in the previous name. In this instance, the Deeds Office will reject the matter call for proof of change of name and request a new levy clearance certificate.
