16:31 Oct 25, 2019
Hi Adrian - it really depends on your jurisdiction. In AUS EN this would be a typical strata title with exclusive use of common property. Not sure what they would make out of it in the UK. Fact is, however, that there are two separate property titles: the first title is the one to the property in the narrow sense, like the apartment or townhouse or whatever. The second one is the right to some specific areas within the "strata plan" (that's what the Aussies would call it) that are yours as well. Like parking lots, basement compartments, components and the like. You are buying the "property" plus the respective areas within the strata plan that are allocated to your property. These are on a separate title (the title of the property and the separate "strata" title"). Hope that makes sense. In the end it simply means you buy both, and therefore you buy them "together" as I suggested. |