Cape Coastal Homes Logo
You are here: Cape Coastal Homes / Latest News / Duet Houses What You Need To Know

Duet Houses: What You Need To Know

SHOWING ARTICLE 490 OF 1096
GALLERY

Duet Houses: What You Need To Know

The financial and security implications of duet home ownership (a sectional title scheme with two units) are attractive, but many owners mistakenly assume that they are not bound by the Sectional Titles Act or the Sectional Titles Schemes Management Act. 

“Duet ownership” usually refers to instances where a sectional title scheme has been erected with only two units thereon. These schemes are therefore regulated by both the aforementioned Acts and this means inter alia that : 

A body corporate comes into existence when the scheme is registered in the deeds office and that it must register with the Community Schemes Ombud Service;

The owners automatically are trustees of the body corporate and must establish and operate both an administrative and a reserve fund for current and future management and maintenance of the scheme. The owners must also conduct body corporate meetings, take minutes, and issue clearance certificates when an owner decides to sell a unit.
Author STBB
Published 19 Jun 2018 / Views -
Disclaimer:  While every effort will be made to ensure that the information contained within the Cape Coastal Homes website is accurate and up to date, Cape Coastal Homes makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.