The Memorandum of Incorporation
As a condition of ownership, registered owners and their successors-in-title automatically become members of the homeowners association. This Association is established upon the first transfer. The purpose is to create a body that represents the interests of the homeowners, and it runs the operational affairs of the Estate. Its members are required to pay a monthly levy to cover costs incurred in relation to the operational affairs.
The Association is section 21 company, with all the registered owners being shareholders. During the development period, the developer or their nominated agents will manage the Association’s affairs. After the development period annually elected trustees will run the Association. They have the authority to represent the Association in contractual and operational matters.
The main functions are:
• controlling security and monitoring access;
• making arrangements for maintenance;
• controlling the architectural and urban design integrity of the Estate
• maintaining landscaping and open space systems.
The Association has the legal right to enforce these controls, and it gives residents a greater degree of control over their neighbourhood than is normally the case. The additional documents explained hereunder all operate in this context.