Sectional Title South Africa

Essay specific features

 

Issue:

Business

 

Written by:

James G

 

Date added:

September 13, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

15 / 4131

 

Was viewed:

558 times

 

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Essay content:

The remaining portion of the land is called the common property and is owned in undivided shares by each owner. Examples of the common property are; ? Corridors ? Lifts Certain areas of the common property may be set aside as exclusive use areas for a particular owner examples of these could be; ? Gardens ? Garages ? Carports All of the owners of units in a sectional title scheme have to pay levies, which goes towards covering the running costs of the scheme...
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The amount of levy payable by each owner is calculated by using the participation quota. The participation quota is calculated by taking the size of the owners unit (Floor size in SQ meters) and dividing it by the floor surfaces of all the units in the scheme. This participation quota is also used to determine the size of the undivided share the owner has in the common property as well as the weight of their vote at any meetings...
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