Unit Titles Act 2010
The Unit Titles Act 2010 is the law governing building developments where multiple owners hold a type of property ownership known as a unit title.
Residential unit title developments are typically apartment blocks, townhouses and suburban flats. Commercial and industrial types include office blocks, industrial or retail complexes and shopping malls.
The Act provides a legal framework for the ownership and management of unit title developments, where multiple owners hold a type of property ownership known as a unit title. The Act covers the creation and ownership of unit title developments, body corporate governance, the rights and obligations of the body corporate and individual unit owners, disclosure between buyers and sellers of unit titles, dispute resolution and a range of technical title and survey matters. The Unit Titles Regulations 2011 support the Act by setting out a handbook of operation guidelines.
For more information on the Unit Titles Act please see https://www.tenancy.govt.nz/uta/unit-titles-act/