Question: Does a strata management company know when a unit is for sale in a complex they manage?
Answer: During the conveyancing process, the purchaser’s solicitor/conveyancer will ask the current strata managing agent for a Strata Information Certificate.
Generally speaking, yes, because at some point during the conveyancing process, typically, the purchaser’s solicitor/conveyancer will ask the current strata managing agent for a Strata Information Certificate under Section 184 of the Strata Schemes Management Act 2015 (NSW). This document discloses statutorily required information (relating to the sale of the lot and the subject strata scheme) with the consent of the current owner of the lot.
Further, on settlement, a Section 22 certificate is provided to the strata managing agent to advise of sale and the incoming purchaser’s right to vote and the date upon which that interest arose.
This post appears in Strata News #756
Leanne Habib Premium Strata E: info@premiumstrata.com.au P: 02 9281 6440