Information on your ownership
Help to unlock the full value of your ownership.
AGM purpose
AGM purpose
The primary purpose of an AGM (Annual General Meeting) for a body corporate such as our resort under the Unit Titles Act 2010 (UTA) is to allow unit owners to collectively make decisions about the property and the body corporate committee, which is the governance entity responsible for it. The AGM is legally required and occurs annually.
The AGM is a forum for unit owners to discuss and vote on matters such as financial statement, maintenance of common property, insurance, budgets and long-term maintenance plans.
Election of the body corporate committee
At every AGM the body corporate (owners) elect a Chair and members for the Body Corporate Committee (BCC) who will oversee the property for the year. The actual day to day management is undertaken by a separate company (Classic Holidays in our case) who are contracted by the BCC to do this work.
Compliance
The AGM ensures the body corporate is operating in compliance with the UTA and its regulations.
Transparency
The AGM provides a space for unit owners to review the body corporate's performance, financial statements, and plans for the future.
Accountability
The AGM allows unit owners to hold the body corporate committee and its management company accountable for their actions and decisions.
Community Building
The AGM can also be an opportunity for unit owners to connect, discuss issues, and build a sense of community within the ownership group.
Role of BCC
The Role of the BCC in a Timeshare Resort
In a timeshare resort, all owners share responsibility for the property. The Body Corporate Committee (BCC) is elected by owners to help manage the resort on their behalf and ensure it is well run, well maintained, and financially sustainable.
While all owners vote on major decisions at general meetings, the committee plays a vital governance and oversight role throughout the year.
Role of the Body Corporate Committee.
- Represent All Owners
- Oversee Resort Maintenance
- Determine Budgets, Levies, and oversee Financial Management
- Implement Decisions of Owners
- Set and Enforce Rules
- Work with the Resort / Body Corporate Manager
- Protect the Future of the Resort
- Ensure Good Communication and Transparency
- Act Responsibly and in Good Faith
A capable and transparent committee helps to:
- Maintain high standards and guest satisfaction
- Protect property values and resale potential
- Keep levies fair and well-managed
- Prevent costly repairs through forward planning
- Avoid disputes and promote harmony
- Secure the resort’s long-term future
Unit Titles
Understanding Strata (Unit Title) Property Rights
A practical guide to who owns what — including land and future development units
In New Zealand, strata properties are governed by the Unit Titles Act 2010. This form of ownership is commonly used for apartments, townhouses, retirement villages, and some resorts or timeshare-style developments.
Under a unit title development, ownership is divided into individual units and shared common property, all within a single legal framework known as a Unit Plan.
Every owner automatically becomes a member of the Body Corporate, which collectively manages the shared elements of the property.
Who owns what in a strata development?
Unit Owners — Ownership of Their Individual Unit
Each unit owner holds:
- Legal title to their individual unit
- The airspace and structural elements defined within the unit boundaries on the Unit Plan
- A share of ownership in the common property (as part of the Body Corporate)
The exact boundaries of a unit are determined by the Unit Plan, not by physical features such as walls or fences. These boundaries may be:
- Interior surfaces of walls, floors, and ceilings
- The centreline of walls
- Or exterior boundaries (less common)
This is why reviewing the registered Unit Plan is essential to understand ownership.
The body corporate — Ownership of common property
The Body Corporate owns the common property collectively on behalf of all unit owners.
Common property typically includes:
- The land beneath and around the buildings
- Foundations and structural elements (if outside unit boundaries)
- Driveways and car parks (unless separately titled)
- Gardens and landscaped areas
- Lobbies, lifts, hallways, and shared facilities
- Service infrastructure (pipes, wiring, drainage)
Each owner has a share in this property, based on their ownership interest.
No individual owner owns a specific piece of common property — ownership is shared collectively.
Title Structure
Title Structure at the Ridge Resort
The tiered structure utilised at the Ridge can be summarised as follows:
The Unit Title
This applies to every timeshare and non-timeshare (private) unit and the two Future Development Units . Ownership of a Unit is freehold, meaning the owner holds a fee simple title and forms part of the owner’s Estate until transferred to a third party. Typically, for each timeshare chalet there are 51 unit titles. For each private unit typically, there is one title.
The Timeshare Lease / Weeks
This applies to all the timeshare units only. The fifty-one owners of a Unit have agreed amongst themselves that each owner shall have exclusive use of that unit for one week, Friday to Friday, each year, referred to in the lease as The Timeshare Week. Each owner has been allocated one week per title owned. For each week there is a separate lease. The lessor is all 51 owners and the lessee is the owner allocated that particular week. The leases commenced in 1988 and last for 999 years. The lease is transferred with the title.
The Pooling Deed
This is a legal agreement between some Timeshare Week owners who have elected to pool their Timeshare Weeks together. The participating owners are then able to reserve any available week in any unit within the pool. This provides flexibility with timing, and these are referred to as Floating Weeks.
Owners who have not participated in the Pooling Deed can only use the week, that is the Unit and the Timeshare Week specified in their Title and Timeshare Lease. These are referred to as Fixed Weeks.
Biennial Weeks
Some timeshare weeks were sold as alternate years only. All of the above applies but the lease stipulates Odd or Even years. Biennial weeks might be floating or fixed.
a. Principal Units
- Unit Plan 20743 (UP) lodged with LINZ defines the 32 Principal Units (Unit) and areas of Common Property that together make up the Ridge Resort. The plan specifies the location and boundaries of each Unit in the horizontal plane, as well as its vertical extent, as recorded in the height-limit table on the face of the plan.
- Each unit issued a separately identifiable record of title based on the definition shown on the UP.
- Units numbered 17–27 are classified as Non-Timeshare Units, commonly referred to at The Ridge as Private Units. (The Act refers to these Private Units as “a Principal Unit that is not a timeshare unit”.) These typically have one or only a few owners – usually owned within one family.
- The Units numbered 1-8, 11- 16 and 28-32, are termed Timeshare Units. Each of these have 51 Owners, each of whom are issued their own unique record of title, recording that they each own an undivided 1/51st share of their specific Unit.
- Units 9 and 10 are Future Development Units . Records of title have been issued for this interest even though these units have not been constructed. The owners’ rights and obligations are outlined in the UTA.
b. Common Property
● Areas not part of any unit are common property.
● Common property is collectively owned by all unit owners via Body Corporate. At the Ridge Resort this includes all outside areas and certain indoor areas including the owners lounge and the office. No Right of Title is issued for common property.
Restructure
Ridge Ownership at a Crossroad?
Core Challenge
For many Ridge owners across all ownership categories, the current complex and layered ownership structure limits the ability to fully use, enjoy, or sell their interests as they may wish.
Main Insight
Alignment among all ownership groups will be essential to enable any change. Achieving this will require fairness and balance, along with goodwill between stakeholders.
Summary of Options
The five options considered are:
- Whole Resort Restructuring
- An early exit for some ?
- Renting Timeshare Weeks
- Transition to a Limited Liability Company
- Substantial Sale of Timeshare Interests to a “Holiday Club”
Key Takeaways
1. Any proposal to sell the Resort outright, that is without an element of restructuring, is unlikely to be successful.
2. Every alternative presents unique advantages and disadvantages. Each will need further investigation after considered consultation and discussion.
3. Structural change is possible but difficult; alignment across ownership groups is the real constraint.
Recognising the conclusions above, OSG has explored a range of options that fall broadly into two categories:
- Restructure options, which would alter ownership and/ or governance arrangements.
- Operational or incremental options, which work within or alongside the existing framework.
The underlying objective across all options is to improve outcomes for owners, whether by enhancing sale ability, reducing financial stress, or increasing long-term value. Most options will require levels of goodwill from fellow resort owners.
Exchanging
Understanding Timeshare Exchange:
How to get the most out of your week.
For Ridge Resort Owners there are several exchange options available.
What is exchange?
Timeshare exchange organisations enable owners at affiliated resorts to exchange their allocated week for time at another participating resort, subject to availability and exchange value. There are two exchange models:
Weeks – traditional week-for-week exchange.
Points – a points-based system offering more flexible stay options (short stays, split weeks, etc.).
Exchange organisations.
RCI (Resort Condominiums International)
For owners wanting the greatest flexibility in how they use their timeshare, membership of RCI can provide access to a large international exchange network.
7Across
Owners who mainly want to exchange within Australia and New Zealand will find 7Across a cheaper option.
Exchange and Play
This is an exchange scheme operated by Classic with the support of 7Across. It mainly offers other resorts managed by Classic.
How to Join
Eligibility
To join you must:
- Own a timeshare at an affiliated resort.
- Be financial (i.e., levies and fees paid up to date).
Membership Process
- Apply online or by phone – Join via the respective website
- Pay membership fee – RCI have a membership fee which is typically offered in 1, 3, or 5-year terms. 7Across membership is free
- Receive member login details – You will then have access to the booking portal.
- Link your ownership week to your membership. Advise the company you want to link your week including the details, they then contact Classic to confirm the details.
How to Deposit Your Week
Depositing your week means transferring your allocated week to the exchange company. You must be a member of the organisation and you need to inform Classic of your membership number. When you want to deposit contact Classic and ask them to organise this for you.
Step-by-Step Deposit Process
- Your maintenance fees must be fully paid before a week can be exchanged.
- Deposit early---The earlier you deposit (ideally 9–12 months before your week), the stronger your “trading power.” Late deposits generally receive reduced exchange value.
- Receive Notification of Deposit
RCI assigns your deposited week a value (trading power) based on:
- Resort quality and demand
- Unit size
- Season and timing
- How early the week was deposited
- This is converted into Trading Points which are used to exchange
7Across exchanges week by week so you get confirmation of having an available week.
- Contact Classic to deposit your week with 7Across
- Once accepted, your week is banked and available for exchange.