Amalgamating and subdividing lots & schemes
In community titles schemes, as in life, situations change. Sometimes what worked before is not viable, or desirable, for the future.
Lot amalgamations & subdivisions
It is common in community titles schemes for owners to purchase lots side by side and then want to amalgamate them, or to have a larger lot (usually a commercial one) they want to split into two separate titles.
This is not a simple process and will always need to involve the body corporate, as it will mean changes to the Community Management Statement to either remove a lot or create a new one. Consideration needs to be given to what the new lot entitlements will be, along with any impacts the change may have on the use of common property.
We have helped many clients through both of these processes. Our advice often includes:
- preliminary advice as to the viability of the project;
- outlining the legal issues involved and how to deal with them;
- negotiating with difficult bodies corporate to achieve the desired outcome; and
- preparing and lodging all of the required documents with the Titles Office.
Scheme amalgamations, terminations & winding up
As buildings age and require increased expenditure to maintain the common property there is a natural point where the choice has to be made – to raise the money required, or find another sale option.
Putting together a proposal for a building amalgamation involves careful consideration of the rights of owners and the statutory obligations of bodies corporate.
We have acted in many building amalgamations for bodies corporate, developers, individual owners and receivers, and have a complete understanding of both the legal and commercial issues that drive such matters.
Find out more:
CMS: Entitlements, Amalgamations and More [WEBINAR]