sec.11Meaning of body corporate assets

sec.11 Meaning of body corporate assets

Body corporate assets , for a community titles scheme, are items of real or personal property acquired by the body corporate, other than property that is incorporated into and becomes part of the common property. an airconditioning unit might be bought by a body corporate as a body corporate asset, but become common property when it is installed as a fixture a lot acquired by the body corporate under section 40 Body corporate assets may consist of any property an individual is capable of acquiring. freehold land, a lease, a licence to use land for a particular purpose, a billiard table, gardening equipment s 11 amd 2003 No. 6 s 3 sch (sec.11-ssec.1) Body corporate assets , for a community titles scheme, are items of real or personal property acquired by the body corporate, other than property that is incorporated into and becomes part of the common property. an airconditioning unit might be bought by a body corporate as a body corporate asset, but become common property when it is installed as a fixture a lot acquired by the body corporate under section 40 (sec.11-ssec.2) Body corporate assets may consist of any property an individual is capable of acquiring. freehold land, a lease, a licence to use land for a particular purpose, a billiard table, gardening equipment

• 1 an airconditioning unit might be bought by a body corporate as a body corporate asset, but become common property when it is installed as a fixture
• 2 a lot acquired by the body corporate under section 40