THIS IS WHERE YOU PAY FOR THE MAINTENANCE AND SINKING FUND OF YOUR ESTATE Read More
MCST stands for Management Corporation Strata Title. Each strata title property like apartments, condos, etc will have one specific No. The residents/occupiers of that property will pay Maintenance and sinking fund to that strata title no. (eg., Pay to MCST plan no. 1234) Read More
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Each Management Corporation is contracted to manage an estate it is given a name that runs like this: Management Corporation Strata TItle Plan No. xxxx (where “xxxx” are running numbers).
MCST take charge the common compound/services of the development such as swimming pool, tennis court, gym, security and so on. All such public facilities have to be managed, maintained by professionals.
All owners are therefore required to pay for the MCST’s services through their monthly maintenance fees.
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While each condo estate has a common name, eg "Marina One Residences" or "Sims Urban Oasis", it will have an official or legal name.
Such a legal name will run in the format like:
"Management Corporation Strata Title Plan No. 1234".
This is the official identifying name of the estate and is in bank accounts and legal documents.
The basis of such a name, and the word "plan" is that this is how the Strata Title Board has approved the title division or title stratification of the land title among the subsidiary owners. While the condo sits on one piece of land (usually one), the ownership is shared amongst the subsidiary owners by a fixed scheme.
This plan/scheme is drawn up by the developer and is approved by the Strata Title Board.
Feel free to contact me if you have more questions.
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