Oct 09 2018
Woodbridge Island Sectional Title Scheme
Posted in Woodbridge Island News
Sectional Title ownership, describes separate ownership of units or sections within a complex or development – such as Woodbridge Island.
When you buy into a sectional title complex, you purchase a section or sections and an undivided share of the common property. These are collectively known as units. Sectional title developments are governed by a Body Corporate, of which our Island has an active one taking care of the day to day running of our island. ‘Body Corporate’ is the collective name given to all the owners of units within any particular sectional title complex. Trustees, elected by the Body Corporate, then represent Woodbridge Island.
A number of reasons, including heightened security, affordability, fixed monthly costs, and a more communal way of life have led to sectional title living growing in popularity.
The duties of the Trustees of our Body Corporate, includes collecting monthly levies, paying the scheme’s insurance premiums, arranging meetings, ensuring compliance with the Sectional Titles Act, and ensuring that the owners and tenants of Woodbridge Island comply with the communities rules.
We have a dedicated office on the island for the Trustees of our Body Corporate and the manager and his staff.