Owners often find themselves in the position where they purchase a unit off the plan, only to discover that there are items missing or there are defects present (i.e. cracking to the cupboards).
It is extremely important for any prospective purchaser to undertake enquiries and due diligence prior to purchasing a property. Pre-purchase inspection reports are crucial to ascertain the condition of a property and can usually be commissioned at a low cost. It is frustrating for any purchaser to find out that the property they have just bought has defects present which were not noted in the pre-purchase inspection report.
Question: What is the definition of an easement?
Answer: An easement gives a right to cross or otherwise use someone else’s land for a specific purpose.
Sale of strata apartments “off the plan”, i.e. before they are built, are common with new developments. In a rising market, purchasers are keen not to miss out or to lock in a price which they expect to be less than the value of the apartment when completed.
Sale of strata apartments “off the plan”, i.e. before they are built, has long been common with new developments. Developers typically require pre sales to satisfy lending requirements. Purchasers have historically been keen not to miss out or to lock in a price which they expect to be less than the value of the apartment when completed.
Question: Are developers required to seek consent from adjoining owners prior to operating cranes over your property?
Answer: The land owner of a non-strata title building or the owners corporation of a strata title building will normally own the air-space that a crane would swing through and their consent is required.
PLANNING LAW REFORMS
A major overhaul of the Environmental Planning & Assessment Act 1979 is underway, via the Environmental Planning & Assessment Amendment Act 2017. Most of the changes commence on 1 March 2018, but a number require further consultation and development and will be phased in over time.
Amendments to the Land Acquisition (Just Terms Compensation) Act 1991 (“Act”), which commenced on 1 March 2017, give owners some significant new rights.
‘Collective Sale’ has been a property buzzword in 2016 – state and local government zoning changes, together with the changes that the Strata Schemes Development Act 2015 now bring, make collective sales a hot topic right now.
The Strata Schemes Development Act 2015 and the Strata Schemes Development Regulation 2016 commenced on 30 November 2016. One of the most important reforms effected by the act is the urban renewal mechanism contained in Part 10, which may permit the collective sale or redevelopment of strata schemes, without unanimous agreement of lot owners being required. We are already encountering developers and lot owners pushing forward with proposals, with a view to moving quickly when the act comes into force.
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