Question:
May two people who live in the same unit act as trustees of the body corporate?

Answer:
In terms of prescribed management rule five a trustee is not required to be an owner of a unit in the scheme provided that the majority of trustees are owners or spouses of owners and that the managing agent or any of his/her employees or an employee of the body corporate may not be a trustee unless s/he is also an owner.

In light of the above there is no restriction disallowing two persons living in the same section from acting as trustees of the body corporate provided that the majority of trustees are owners or spouses of owners and that either of these two people are not the scheme’s managing agent or one of his/her employees or an employee of the body corporate.

However, even if one or both of these people was the scheme’s managing agent or his/her employee or an employee of the body corporate, s/he would be able to act as a trustee if s/he was also the owner of a unit in the scheme.

Links to Jennifer's previous Q&As on page two...

Click here to ask Jennifer a question regarding sectional title property...

www.paddocks.co.za

Page: 1 of 2 - next

RSS

Digg

de.li.cious

facebook

MORE PROPERTY

Bargains for Africa A large auction group says that they will be putting 611 Johannesburg homes under tha hammer.

Property: the road ahead Speakers at the annual Rode Conference had stern, yet hopeful, predictions for property...

Find your dream home In the market for a new home? Browse our massive database for the perfect property...