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A subdivided flat

Submitted by miike on April 4, 2008 - 10:54am.

Joined: 30/01/2008

Hi Guys,

Generally I have found flats to be strata titled. Recently I have found a nice property (a flat) that has been subdivided.

I find this quite odd.

Has anyone had any experience with the difference between the property ownership types (i.e subdivided vs strata). Is there anything that I should be looking out for?

Also with flats (subdivisions and strata) what is the general practice if there is building issue, i.e the building needs to come down/redeveloped due to old age....non-heritage.

I am quite new to this, so any help is very much appreciated.

Cheers,
Michael



April 4, 2008 - 10:56am

Joined: 30/01/2008

Forgot to mention:

Body Corporate - 250 per quarter
Cody Corp Funds - 16k
Insured for 2.2 Million, with 9 flats, all equal rights.


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