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Hello, I have a company title property in Victoria. Over the years there have been various special resolutions passed to change the Articles including property boundaries. There is a lot of dispute as we’re trying to go back to previous minutes to find the resolutions and have no real proof the minutes have not been doctored by those long time residents who have copies of the minutes. No special resolutions have ever been registered with ASIC. Are they valid?
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Marie123 said:
Over the years there have been various special resolutions passed to change the Articles including property boundaries.
If this is the case, then the minutes of the meetings and resolutions must have been kept by someone, most likely the managing agent of your company title block. ‘Long time residents’ don’t keep minutes/ resolutions, unless they were given a copy of them.
If you don’t trust your neighbours who have been living there a long time, plus you believe they are ‘doctoring’ documentation, then perusing the master file for the Corporation is your avenue. You must have a managing agent who co-ordinates the AGM, advises ASIC of shareholder/ director changes etc. and sends out quarterly levy notices? You at least have a Chairperson on the Board of Directors?
Very few Company Title blocks are self managed. ASIC are really only interested in recording changes of Directors etc. However, you could call their info line and speak with inquiries about your concerns and they will look up the computer and advise you further on documents lodged with them.
In a Company Title unit the shares allocated to a shareholder give a right to occupy ‘space’. If the boundaries of that ‘space’ were altered, then a corresponding change to levy payments correlating to an increase/ decrease in ‘space’ should ensue. Is this the nexus of your concerns?
There are various Company Title threads on this website that are worth perusing. If you are prepared to pay for a lawyer, then find one who is experienced in Corporations Law and Company Title unit blocks.
If the records have not been kept, then your fellow shareholders are at the same disadvantage as you.
Proof of a decision is based on proper records, not the often faulty memories .
Consider the baseline to be anything that you can find proper records for. Then see what amendments need to be passed to make it like people think it should be.
As the property is some 70 years old it seems the Articles have never been changed and remain as is from 1960. The levies also remain unchanged since 1960.
OMG…If your levies have never been changed since the 1960’s then you must be laughing with the minimal payments you are all making as shareholders to keep the company/unit block going.
Perhaps you are not being as frank as possible as to divulging past events in your unit block. You have posted before on this forum, with a previous question pertaining to a shareholder intending taking over the laundry area as part of their shareholding. You have been given some sage advice in relation to this.
Who managed the unit block prior to 5 years ago? Where are the records? If you can get other shareholders on side with your issues of concern, then pay a company title lawyer to impart some legal advice as to the validity of property boundaries.
If you aren’t prepared to do this, then selling up to be rid of your neighbors who are causing you so much angst may be your only recourse.
If your levies have never been changed since the 1960’s then you must be laughing with the minimal payments you are all making as shareholders to keep the company/unit block going.
I saw that and suspected the OP meant the shares (the equivalent of Unit Entitlements) had not changed since the 60s. The charges must have gone up in the past 60 years, surely, or the building wouldn’t be able to pay its bills.
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I’ll let the readers know how I go as it seems this matter is likely to go to the Supreme Court and there will be learnings to share.
That would be great and good luck with your case.
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