Management rights matters & assignments
Management rights agreements always have the body corporate as a party to them.
This means that when the current manager wants to sell, they require the consent of the body corporate.
A body corporate cannot unreasonably withhold consent to the assignment of a management rights agreement, but that does not necessarily mean it has to say ‘yes‘. A body corporate is entitled to understand the capabilities of the buyer and go through a formal assignment process.
We have acted in thousands of management rights assignments for both bodies corporate and the sellers and buyers of management rights businesses. We know the regulations, steps, and the hurdles that may arise, and can help guide you through.
Find out more:
The Assignment of Management Rights Guide [DOWNLOAD]