GLOSSARY TERM  
  Building Management Statement  
 
  DESCRIPTION  
  A document dealing with the management, support, shared service and insurance issues in relation to a building containing one or more stratum lots. It is signed by each owner, mortgagee, chargee or covenant chargee under a mortgage, of part of a building concerned or its site, and is to be registered under Part 23, Division 3B of the Conveyancing Act 1919 (NSW).