A company title is a scheme regarding the land of ownership. With the help of this scheme, a company owns the title of that land. It was first introduced in New South Wales in the year 1961. But before that period, the buyers used company title for purchasing shares of any construction and that was provided them with shared use of that common property. Let’s know a brief introduction about company title NSW discussed below.
History of company title
Before strata title was introduced in New South Wales, company title was the main way that offers separate ownership a common building. At that time, buyers purchase shares in an apartment and it gives them exclusive use as well as the occupation of a unit.
Company’s constitution is one of the most important features of company title. This institution was organised with a set of rules that help for transferring of shares, give information regarding the property’s governing body, voting rights and some restrictions and limitations of share ownership that the seller should always remember. Hence, you should speak to a company title expert in NSW and then consider to buy a company title.
Advantages of buying company title
First of all, you should check the constitution of the corporation for clarifying the limitations and restrictions. There are certain benefits of purchasing company title. Let’s know some of them in brief. Buying company title apartments are less expensive as compared to strata title. As well as, investors can easily make money to buy a company title that can be changed into strata title later.
Not only that, but company title property can also be represented as good value for money. The prospective owner should first get approval from the Directors of the company. The company title constitution contains dispute resolution procedures that are simpler as compared to strata title.
