Minute keeping essential part of sectional title trustee duties
may come as a surprise to many body corporate members of sectional title
schemes in the Western Cape to know that many trustees of such schemes are
ignorant of matters which form part of their responsibility, says Michael
Bauer, general manager of IHFM, the firm which administers many Cape sectional
title properties. This, he adds, is especially true of the entire minute
keeping process as laid down in Section 34 of the Prescribed Management
It is, said Bauer, absolutely essential that the managing agent (if there is one) or one or two concerned members ensure that the trustees adhere to the basic requirements regarding minutes.
These, he said, are that:
1. they keep minutes of all proceedings;
2. a separate minute book for all body corporate meetings is established and kept up to date;
3. this minute book records all resolutions unanimous, special or of any other type;
4. the body corporate minute book and all other minutes is kept in perpetuity (it is a criminal office to mislay it); and
5. these minutes be made available for inspection not only to owners and mortgagees but also to prospective members and their agents considering buying into scheme.
Bauer, who is one of the recognised experts on SA sectional title matters, now writes two online newsletters (in simple non-legal terminology) discussing these matters and he does not charge for emailing them to the public. One of the latest features in the newsletter is a question and answer column which, says Bauer, has once again revealed how much body corporate members still need to know about their rights and the regulations governing sectional title.
Article from: www.ihfm.co.za