Section 110 (1) and (2) certificates
What information needs to be provided?
What are they?
Section 110 forms are requested by purchasers to obtain information about the lot and scheme in which they intend to buy. Within the strata and settlement industry, they are referred to as:-
Section 110 (1): a certificate about the strata company (Strata Company Certificate)
Section 110 (2): a certificate about the lot (Lot Certificate)
A purchaser will usually request both forms. Before the amendments to the Act, there was one certificate that was referred to as a 'Section 43'.
The specified charge which may be applied by the Strata Company for each certificate is $140 (+GST where the Strata Company is registered for GST)
So what information is provided on each document?
No strata manager? If you are a self-managed scheme, we can still help you...
If you are a self-managed scheme and need help with these forms, we are happy to provide owners with a free template. Just email us at admin@abodestrata.com.au and we will be happy to assist at no charge. You may click this link below to view a sample request letter from a Settlement Agent.
We would recommend that that you obtain the purchasers details (Name, Mobile, Email, and anticipated settlement date) from the settlement agent straight away. Once settlement occurs, notification can be overlooked, so it is something you may have to follow up. And one other thing... once you have received the request (and payment), you will need to supply the information within 14 days.