Friday, August 24, 2012

Strata Dispute Involving A Marina

Ten years ago I was given a project recovery role on a waterfront property development involving luxury apartments, a large marina and some marine related commercial suites.

There was a complex strata plan due to all these competing uses which took substantial time to organize.

On top of this the By-Laws were purpose written to ensure all details were accounted for.

Now I understand that the marina owners are in dispute with the apartment and commercial suite owners regarding the allocation of costs for repairs, maintenance and operations.

Given we are talking about people with a reasonable asset backing and therefore some business acumen, it appears odd that the basis for the dispute would arise.

It seems that nobody has read the By-Laws or their original Contract For Sale of Land (or marina berth) where all the required information is contained. The entire process is clearly identified and everyone purchased their property on this basis.

This appears to be an unnecessary dispute that only feeds the lawyers pockets and clutters the courts.

For those who have raised the dispute it may end up being a very expensive exercise if they cannot prove their case.

If you become involved in any potential for dispute have a very close look at what you are going to argue about. Read the contract or agreement and try to settle the dispute promptly. If all else fails try mediation. If that fails then there is little other choice but litigation.

Litigation is very expensive and should be avoided wherever possible. What if you lost?

http://www.lefta.com.au


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