Can anyone advise me of the implications or pitfalls of purchasing a property that sits on a shared title? (i.e. two seperate houses, being sold seperately, but sharing one block of land with one title.)
This sounds weird and risky to me. You see this all the time with units (strata titles), but not so much with houses.
Be careful as to WHO exactly owns the land. Do you both own it? Does one person own it?
If you both share the land then you will likely have to pay strata fees. Strata fees help pay for the maintenance on common ground. These fees could increase your expenses and decrease your return on investment.
Ryan McLean | On Property
http://onproperty.com.au
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