A community title subdivision is a popular for developers to market large blocks of land to residential and commercial buyers. The land is subdivided into lots with separate identifying titles with a communal property available to all. The land is divided by lots and each lot has its own defined title as well as access to the communal plots.
For one, the developers in Sydney like to offer full-package lifestyles. They market large plots of land as the full lifestyle image with home, bike tracks, swimming areas, parks and playgrounds, communal eating areas, and lakes.
Also, in the case of commercial zoned areas, the community title subdivisions are used for properties that have a general space such as a car park or a green space.
Because the property is divided up into lots, each owner of the lot is an individual owner of said lot. They are responsible for all costs and have complete ownership of that private property. They are the insurance holders as well as the responsible parties for building costs on their own land. They also join into the communal association, or corporation for that community title. The communal spaces are governed by the collective association, and they set the governances and by-laws of that area.
Both residential and commercial community associations are there to ensure that everybody’s interests are well represented in that community. Many community associations garner fees to cover the management of the communal spaces.
As with any real estate purchase, a solicitor should advise on all the legalities of the purchase, including the by-laws of the community plots. Laws differ from state to state, so expert advice should be sought.
If you need advisement or help with a community title subdivision, contact Geosurv, the only specialist on these titles that’s been operating for over 10 years. Their experience in residential, commercial, and governmental sites makes them the premier choice to advise on any community or strata title subdivisions.
To experience the Geosurv’s ability to focus on their clients and provide professional and efficient service, contact them today with your community title subdivision needs.