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Sectional Title

There are several important things to realise when attempting create a Sectional Title Scheme over your property.

  1 Only existing buildings can be registered for sectional title.
  2 Building plans must be up to date.
  3 Existing tenants need to be informed.
  4 Allow 3 to 6 months for the survey and registration of your scheme.
  5 A Body Corporate will have to be set up to run the Scheme.
  6 All shareholders and the bondholder will have to give consent.
  7 Rates must be up to date.
  8 Consult your accountant on the implications of Capital Gains Tax, VAT and Transfer fees, especially if the property is held by a CC or Trust.
for more detailed information

Briefly the process is that the Surveyor will:

  a check that the buildings conform to the approved Building Plans.
  b survey the beacons and boundaries of your site.
  c measure up each proposed division.
  d measure up any Exclusive Use Areas.
  e draw up the plans as well as a Participation Quota.
  f submit these plans to the Surveyor General’s Office for registration.
  g Once approved, you must appoint an attorney to set up register the Sectional Scheme and arrange for the transfer of each Section as you sell it.
  h You and your attorney will also need to set up a Body Corporate to run the Scheme.
    for more detailed information