Community of owners for first buyer

Viewing 1 reply thread
  • Author
    • #192789
      Karr Laurie

      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

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

Viewing 1 reply thread
  • The forum ‘Property Questions & Answers’ is closed to new topics and replies.