Reform of the Strata Titles Registration Law (2005 Revision)
The Law Reform Commission has agreed, pursuant to a request by the Caymanian Bar Association and the Cayman Islands Law Society, to further extend the period of consultation on the strata titles reform to 31st May, 2013.
Comments on the Bill and discussion paper should be submitted in writing and delivered to the Director of the Law Reform Commission at 1st Floor dms House, Genesis Close or sent by e-mail to [email protected].
The draft strata titles reform bill contains a complete review of the regulation of strata titles in the Islands.
In 2011 a Strata Titles Registration (Amendment) Bill containing provisions relating to the management and administration of strata schemes, the termination of strata schemes and resolution of disputes, was submitted for public comment. The Commission received responses from a wide variety of persons including the legal associations, the Bankers’ Association, CIREBA, individual real estates agencies, strata owners, executive committees, the Water Authority and the Cayman Contractor’s Association. The clauses set out in the first Bill were amended pursuant to comments submitted and have been inserted in this new Bill.
Matters dealt with in the Strata Titles Bill, 2013 include the creation of strata lots and common property; the management and administration of strata schemes; phased development of strata schemes; the regulation of leasehold and vacant land strata schemes; protection of purchasers; termination of strata schemes and resolution of disputes. The Schedules to the Bill provide model management statements to be used in mixed strata schemes and revised model bye-laws for residential strata schemes.
The Bill will also no longer use the term “strata” and will refer instead to “strata scheme”.
The Discussion Draft can be downloaded at:
