Hi
I found a property which reads “Flats for sale five 2 bedroom units on two separate titles ” what does separate titles mean.
Thanks Rob
Hi, Rob.
Separate titles means that the flats are built on two blocks of land that adjoin but have separate title deeds – Certificates of Title – the evidence of ownership document. When land is subdivided each block has a separate certificate of title but people can buy adjoining properties and then get permission from the local authority to build in such a way that the structure spans the two blocks or encroaches on what would normally be the required minimum distance from the shared boundary. Depending on the position of the structure and its condition there may be potential for redevelopment and sale of two separate blocks.
Hope this helps.
Hi
So you pay 2 lot of rates per year one for each title
Thanks Rob
Yes, I guess you would. But with flats you would be paying additional/different rates anyway because of the number of garbage collection services and WCs etc. Best idea would be to check with the local authority/council.
Potential perhaps for a resubdivision to strata title and separate sale of five properties.
I have just bought four adjoining blocks of land from four vendors and the council will allow me to pay one general charge, one garbage removal charge and the rates at the rg’s valuation.
PSST anybody want a quick acre and a DA for 8 houses and a builder prepared to build it all for one million by next Christmas and a real estate agent who says he can sell the lot for 1.4 million?
Oh and as the largest privatley owned employer in town about to expand my workforce by 10 I have the tennants to go with it!
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