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How much does it cost to change a company title to a strata title?
The Land Title Office (LPI) charges for registering a strata plan $298.30 per unit. While the cost of preparing the strata plan is subject to a surveyor quoting on the work.
Can a strata title be changed?
Answer: It is not possible for one lot proprietor within a strata scheme to change their lot to Green Title. When you purchase a lot in a strata scheme, you are also purchasing an undivided share of the common property within that strata scheme in accordance with your unit entitlement.
Can strata title be changed to Torrens title?
In order to convert from strata to Torrens, you need to consolidate the entire strata plan, which generally means that you need to own the entire complex.
How do I convert a stratum to a green title?
Existing Strata Titles cannot be converted to Green Title quickly or cheaply. The existing Strata Plan must be extinguished and an entire new subdivision process completed. This is possible, but the process is lengthy and, in many instances, prohibitively expensive.
Is strata good or bad?
The conclusion is that strata schemes are only as good as they owners within them. If you have a dormant body corporate that usually spells trouble for the future profitability of the complex. Like I've said, investing in investment grade units and townhouses can provide capital growth potential and solid yields.
What is a share title?
Company Share Title. A form of property ownership represented by owning shares in a company that owns a property, but not represented by direct ownership of the property itself. Company share title is most common with multi-unit properties like apartments. Title to the land and buildings is owned by a company.
What is a company share property?
Company share apartments are an ownership arrangement for apartments where a company owns the land and the building on the land. When someone purchases an apartment in a company share apartment building, they buy shares in the company instead of a title (as the title is owned by the company).
What does stratum title mean?
Stratum Title. Provides legal ownership over a property and also gives you a share in the company set up to look after the common areas of the flats or units where the property is located. The service company owns and manages common property.
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