All Topics / General Property / Company Title Properties

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  • Profile photo of accalamaccalam
    Participant
    @accalam
    Join Date: 2004
    Post Count: 2
    February 10, 2004 - 1:38 pm

    Hi all. I am newly registered in forum but have been a silent observer for some time now.

    I am looking at purchasing a dual occ property but am not able to subdivide and sell separately due to council laws.

    I have been told that I can register the property under company title and then sell shares in this company.

    Does anyone here have any experience with this type of thing.

    Any views greatly appreciated.

    Thanks
    Mark

    Make sure you live today, don’t wait for tomorrow… Accalam

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714
    February 10, 2004 - 1:47 pm

    Accalam,
    From my somewhat limited experience, I think this is company share/stratum title. The more knowledgeable people on this site will confirm.

    When I have looked at older flats to purchase, many have been company share. I know some of the banks will not lend as much on this as opposed to strata title. Just a thought for your future potential purchases. Ultimately, the factors that make a good property are the same for strata/stratum/company share though.

    James

    Profile photo of accalamaccalam
    Participant
    @accalam
    Join Date: 2004
    Post Count: 2
    May 18, 2004 - 1:54 pm

    thanks

    eral shame no more replies on this one…

    Make sure you live today, don’t wait for tomorrow… Accalam

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 19, 2004 - 4:12 am

    Mark

    I am not sure on whether you would be able to do that or not, but would like to point out that company title properties are much harder to sell and get finance for.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429
    May 23, 2004 - 7:03 am

    Mark, agree with Terry. From my understanding the banks don’t like company title because they can not point to the unit that they actually have a mortgage over, so the security, in their eyes is less….

    Cheers
    Mel

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