Community of owners for first buyer

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of rojoybago rojoybago 2 months ago.

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  • #192789
    Profile photo of Karr Laurie
    Karr Laurie
    Participant

    I have my eye on a house in a block of 4 houses, they butt onto each other sideways and back to back. The block was built in 2008, by a property developer and none have yet been sold

    I have seen the “nota simple” for this property and can see that it’s covered by the “Horizontal property law”

    I am aware that I should be part of a “community of owners”, so my question is how does this work if I am the first and for the time being the only owner.

    I am working on the assumption that I would own 25% and the developer still would own 75%, does this imply that a community exists from the moment I sign my purchase, or do other rules apply.

  • #192791
    Profile photo of rojoybago
    rojoybago
    Participant

    community already exists even if not constituted !! get legal advice before u buy – ie pay a lawyer

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