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M U D Act when estate taken over by Council

  • 08-11-2016 09:00PM
    #1
    98Pat
    Registered Users, Registered Users 2 Posts: 3 ✭


    Our estate of 20 conventional houses ( no apartments) has shared septic system, lighting, roads and common grass areas. We have an active OMC operating under the M U D Act.
    Recently the County Council have agreed to adopt the estate and connect us to the main sewerage system, look after our lighting and roads.

    It would appear that we only have grass cutting to worry about but where does that leave us in satisfying the requirements of the Act?

    Do we have other legal liabilities? Can we dismantle the OMC?

    Oviously we will be taking legal advice but I would welcome any thoughts.


Comments

  • #2
    Paulw
    Registered Users, Registered Users 2 Posts: 13,270 ✭✭✭✭Paulw


    You definitely need proper legal advice on this issue.

    Just because the council have taken in charge a lot of things wouldn't automatically mean you can just dismantle your management company, in my opinion.


  • #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Plus keep in mind- in all probability all of the property is physically vested in the OMC- if you dissolve the OMC- ownership of the assets reverts to the Minister for Finance- not the shareholders of the OMC..........

    You need to get good legal advice on this.


  • #4
    98Pat
    Registered Users, Registered Users 2 Posts: 3 ✭98Pat


    I suspected this. Some members were suggesting we could forget about the OMC and say goodbye to our fees. Life is not that simple.


  • #5
    Paulw
    Registered Users, Registered Users 2 Posts: 13,270 ✭✭✭✭Paulw


    98Pat wrote: »
    I suspected this. Some members were suggesting we could forget about the OMC and say goodbye to our fees. Life is not that simple.

    Definitely not that simple. You have a legal contract to pay fees to the management company. While you may be houses, there may be complications in trying to sell your property if the management company isn't properly running.

    A very complex situation that only a professional legal adviser can clarify.


  • #6
    L1011
    Registered Users, Registered Users 2 Posts: 72,401 ✭✭✭✭L1011


    The OMCs expenditure and need for a sinking fund will massively reduce, so fees can be reduced in line.


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  • #7
    Glass fused light
    Registered Users, Registered Users 2 Posts: 1,576 ✭✭✭Glass fused light


    The_Conductor wrote: »
    Plus keep in mind- in all probability all of the property is physically vested in the OMC- if you dissolve the OMC- ownership of the assets reverts to the Minister for Finance- not the shareholders of the OMC..........

    You need to get good legal advice on this.

    Is the CC taking ownership of the common owned areas?
    ^ I can see someone buying the assets off the minister and building on the green In a couple of years :eek:


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