dozens of duplexes built by the Coalition lack the legislative support it needs.
Failure to amend the dated Condominium Act had resulted in the homeowners, who invested in the duplexes, failing to secure insurance and titles for the property because they only had a certificate of sale and not a transport or title.
“The owners of those 46 duplexes built by the last administration can sleep better tonight knowing their legal position is more defined and protected by law…they will be able to secure property rights,” Croal noted.
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Minister of Housing and Water, Collin Croal (Photo: DPI/February 26, 2021)Six months after this bill comes into effect, owners of units will have to prepare a declaration and submit same to Registrar at the Deeds and Commercial Registry for registration.
Upon registration, the owner will now be issued with a transport or certificate of title and once issued with that document, the existing certificate of sale will no longer carry legal effect.
The law will see the establishment of regulations and associated fees will be consistent with current administrative fees for similar services.
“It is a modern piece of legislation that is on par with other territories… it is timely and relevant to emerging trends in home buildings.
“It has limitations but we will continue to examine and put forward solutions,” Coral added.
Altogether, the bill makes provisions for the building of condos in a highly regulated public sector and imposes a duty to ensure the repair of damages.
