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| Thread ID: 105357 | 2009-11-29 00:11:00 | Cross lease sections | rebels181 (14841) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 834532 | 2009-11-29 09:21:00 | In 2001 I bought a flat on a cross leased section with 2 other flats on it. The flat I bought had an added conservatory built onto it. It was not included on the plans and my legal advisors told me not to buy unless it was included on the plan. It cost the sellers $3000 to get it put on the plans. :) |
Trev (427) | ||
| 834533 | 2009-11-29 10:03:00 | In 2001 I bought a flat on a cross leased section with 2 other flats on it. The flat I bought had an added conservatory built onto it. It was not included on the plans and my legal advisors told me not to buy unless it was included on the plan. It cost the sellers $3000 to get it put on the plans. :) There seem to be conflicting views on this kind of issue. When I had plans drawn up for 2 porches on my house I submitted them to my 3 neighbours. One awkward bugger pointed out that one of them was fractionally larger than my flat plan showed and this would invalidate not just my crosslease but all the other 3. My solicitor thought he was wrong and argued that a future buyer, even if he went round with a tape measure wasn't going to quibble that he was getting more for his money. But the neighbour was adamant and I suspected he would make trouble by dobbing me in to the council so I amended the plans to be on the safe side. Martynz |
martynz (5445) | ||
| 834534 | 2009-11-29 10:47:00 | There seem to be conflicting views on this kind of issue. When I had plans drawn up for 2 porches on my house I submitted them to my 3 neighbours. One awkward bugger pointed out that one of them was fractionally larger than my flat plan showed and this would invalidate not just my crosslease but all the other 3. My solicitor thought he was wrong and argued that a future buyer, even if he went round with a tape measure wasn't going to quibble that he was getting more for his money. But the neighbour was adamant and I suspected he would make trouble by dobbing me in to the council so I amended the plans to be on the safe side. Martynz Sigh. Conflicting views is what allows lawyers to make money. You suspected but did you know? I might add that if I want legal advice I would not ask in this forum as the laws change by the day. |
Sweep (90) | ||
| 834535 | 2009-11-29 23:09:00 | In 2003 my then landlord sold me 2 adjacent sections with 4 houses (one of which I was renting) and because the whole lot were on a single title I subdivided, cross-leased and sold 3. Just curious, did you cross-lease, or subdivide? I thought they were two different processes with two totally different outcomes. Andrew |
Andrew B (867) | ||
| 834536 | 2009-11-30 03:32:00 | Just curious, did you cross-lease, or subdivide? I thought they were two different processes with two totally different outcomes. Andrew I had to subdivide to establish the boundaries for the 4 separate houses. Then, on advice, I decided on crossleases as being the cheaper option although its going out of favour and lots of people prefer unit titles. There was a further complication - the 2 sections go up a very steep hillside behind the houses with bush cover and native bird life. I didn't want to see that developed so in addition to each house being allocated its own patch of land the remainider is held in common ownership. The rates payable on that are shared between all 4 owners whereas if I had retained it I would be paying the full rates. One final interesting point which I had forgotten was that the plans for my subdivision included 2 porches and a deck. If I had not proceeded with the porches the title would be defective. Martynz |
martynz (5445) | ||
| 834537 | 2009-11-30 03:35:00 | I had to subdivide to establish the boundaries for the 4 separate houses. Then, on advice, I decided on crossleases as being the cheaper option although its going out of favour and lots of people prefer unit titles. There was a further complication - the 2 sections go up a very steep hillside behind the houses with bush cover and native bird life. I didn't want to see that developed so in addition to each house being allocated its own patch of land the remainider is held in common ownership. The rates payable on that are shared between all 4 owners whereas if I had retained it I would be paying the full rates. One final interesting point which I had forgotten was that the plans for my subdivision included 2 porches and a deck. If I had not proceeded with the porches the title would be defective. Martynz Have you tried the property talk website, they would know. |
robbyp (2751) | ||
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