Unit Title act explained: The apartment buyer’s guide

Buying an apartment or townhouse often means purchasing a unit title, governed by the Unit Titles Act. This makes you part of a body corporate that manages common property and charges fees.

Thorough due diligence is crucial before you buy. Key steps include:

- Reviewing body corporate rules, fees, and financial health

- Checking meeting minutes for any disputes or building issues

Recent 2022 Act changes improve buyer protection by requiring sellers to provide mandatory pre-contract and pre-settlement disclosure statements.