Hi, I have just signed a contract for a duplex that contains two three-bed units… Are there any implications if there is no body corporate as we will own both units? – Gary, QLD

Q: Hi, I have just signed a contract for a duplex that contains two three-bed units. My solicitor has advised that he would not recommend signing the contract if I had informed him that there was no Body Corp on the building. Are there any implications if there is no body corporate as we will own both units?

 

A: In Queensland, if you are buying into a duplex with two residential lots you are able to enter into what’s known as a “Lot owners agreement”. This means that you as the owner of both lots will be able to handle the management of the property yourself, which removes the need for a body corporate to be present.