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Report on Multi-Unit Developments - Law Reform Commission

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Table 2: Developer and <strong>Unit</strong> Owners<br />

DEVELOPER<br />

C<strong>on</strong>tract<br />

+<br />

Transfer Of<br />

Beneficial<br />

Ownership From<br />

Developer To <strong>Unit</strong><br />

Owners<br />

UNIT 1<br />

UNIT 2<br />

UNIT 3<br />

UNIT 4<br />

5% PURCHASE<br />

MONEY HELD IN<br />

TRUST UNTIL<br />

COMPLETION<br />

Table 3: Owners’ Management Company and <strong>Unit</strong> Owners<br />

Site & Comm<strong>on</strong><br />

Areas Delineated<br />

OWNERS’<br />

MANAGEMENT<br />

COMPANY<br />

C<strong>on</strong>veyance Of Legal<br />

Interests<br />

+<br />

Covenants Between<br />

OMC & <strong>Unit</strong> Owners<br />

UNIT 1<br />

UNIT 2<br />

UNIT 3<br />

UNIT 4<br />

191

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