Usually on a block of units owned by a company and run by a board of directors. You purchase shares in the company rather than owning a title or deed.
Usually used for apartment blocks, these titles require each owner to become a partner in a company. Each new owner has to be approved by the other property owners.
This Title applies when a company owns the whole of the property. By purchasing shares in the company, the purchaser obtains an entitlement to occupy a particular part of the property. See your solicitor before buying.
The title where the unit holders are Shareholders in a private company
Method of owning real estate by way of company shares (usually preceded Strata Title Act.)
This title grants a shareholding in the company which owns the property, not ownership of the property itself. Contract Note Precedes the formal contract of sale but may be just as binding. Treat it with due care.
Company Title is where unit owners are actually shareholders in a private company.
Owners of these units are shareholders in a private company. The approval of the majority of shareholders is necessary if you wish to lease or sell your property.
A property title that applies when owners of units in a block form a company.
A company owner has a certificate of title and the owner automatically becomes a member of a company that administers, manages and maintains the property in which the owner's flat is registered. The Directors of that company are elected each year at the Annual General Meeting from owners involved only with that company. Ie. Owners in that block.
A type of ownership for a unit/flat/apartment in a building that is owned by a company. A purchaser of a unit/flat/apartment buys particular shares in the company which gives the purchaser the right to occupy the unit/flat/apartment. Lenders are generally not enthusiastic about lending on company title properties.