We are pleased to advise that a new protection mechanism has recently come into effect which provides protection for sectional title owners. Prior to the amendment, members of body corporates could be held personally liable for body corporate bad debt, but since the amendment this is no longer the case.
It is therefore no longer possible to hold members of a body corporate personally liable for body corporate debt on condition that such member has fully paid his contributions to the body corporate i.e. levies etc at the time when the body corporate incurred the debt.
This protects members of the body corporate and will add to the security that the sectional title concept as a whole offers to the home buying public in South Africa.