Advice on seperate titles,pls??

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Misty1
Member
@misty1
Join Date: 2004
Post Count: 348
July 20, 2004 - 4:18 am
It seems some cheaper rural properties can frequently be on large blocks with seperate titles.I am wondering about:
A)What the process,& costs involved are of seperating titles to sell off
B)Is it worth it?
Any experiences out there?[confused2]
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
July 20, 2004 - 7:01 am
I have no experience in this area, but imagine having separate titles would be a good thing as it could make it easier to sell off part of the farm.
Terryw
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Julia
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@julia
Join Date: 2004
Post Count: 217
July 20, 2004 - 1:05 pm
Misty1,
If the proeprty is under 5 acres then it you live there you can exempt from CGT if you sell the whole property to the same person. If you are not going to do this makes no difference for tax purposes just apportion cost base amongst the sub division.
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crj
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@crj
Join Date: 2004
Post Count: 618
July 20, 2004 - 8:32 pm
Misty,
From the NSW perspective if the land has separate titles you can sell a one separately. This applies eg on the older deeds which might include several lots or portions. No subdivision fees.
However, just because it can be sold separately might not mean it has a building entitlement or even if it has a building entitlement that it can be built on without meeting council requirements for access etc.