STRATA
INFLUENCE
BETTER MANAGEMENT - BETTER LIVING
BETTER MANAGEMENT - BETTER LIVING
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.
Examples:—
(a) an air-conditioning unit might be bought by a body corporate as a body corporate asset, but become common property when it is installed as a fixture;
(b) a lot acquired by the body corporate under section 40 of the Act.