This video and article about signing an agreement or contract on behalf of the owners corporation in Victoria has been provided by Rochelle Castro, RC & Co Lawyers.
In Victoria, is it efficient for one lot owner to sign an agreement or contract on behalf of the owners corporation?
Section 21 Subsection 1 of the Owners Corporation Act requires two lot owners witness the use of the common seal when signing or executing an agreement or contract.
That said it is efficient for one lot owner to sign an agreement or contract on behalf of the owners corporation on the condition that the owners corporation resolve by a general meeting or by ballot that they have read, understood and accepted the terms of the agreement or contract and that they authorize the particular lot owner to sign that document on their behalf.
This post appears in Strata News #415.
Have a question about signing a contract on behalf of the owners corporation in Victoria or something to add to the article? Leave a comment below.
- VIC: Q&A Setting Up a Maintenance Plan and Deciding on a Budget
- VIC: How Can An Owners Corporation Survive a Cash Flow Crisis? [Step-By-Step]
- NAT: Q&A Non Payment of Levies: Financial Options to Survive COVID-19
Looking for strata information concerning your state? For state-specific strata information, take a look here.