2 titles on one block

[Neptune]

I was looking at a property over the weekend that had 2 titles on one block. Contract of sale is not available yet to review but it looks like the existing house sits across both titles from discussions with the agent.

This property has great subdivision potential with wide street frontage and could easily be split into 3 lots with demolition of existing house.

Would it be more troublesome and expensive splitting the 2 titles into 3 lots and readjusting the boundaries of each lot as opposed to if it were all on just one title?
If so then what are the issues likely to be?

 

[Terry_w]

These are common in QLD. One of my clients is trying to do this now and I put him into contact with RPI from this forum, town planner and QLD property solicitor.

 

[Neptune]

This property is in Victoria. Have some more info. It is actually 2 lots with 2 titles but one house built across both lots.
One lot is 8M wide and the other lot is 16m wide. It looks like only the 16m lot would need to be subdivided as the 8M lot is already on its own title.

Anyone forsee any issues here with this setup?
Does it make things more complicated than if it was all on just one title?

 

[RPI]

QLD is easy to sort out. Under $900 to split and get new titles. No need to connect water, remove encroachments etc. Normally takes <10 business days but depends how busy titles office is.

 

[sandyfeet]

slightly off topic,

a friend was looking into buying a house as a JV with the intent to knock down the existing dwelling and build 2 houses and then subdivide. They were going to put both their names on the contract at purchase and he was advised that upon completion they would be able to own one each and have their own name on the title of their respective house. He asked if I thought this was possible, I don't know either way, but said I knew who to ask,

is this true? thanks

 

[Terry_w]

Yes it is possible but generally subject to stamp duty on the transfer. By entering a deed of partition each could end up with their respective titles with only nominal duty. Speak to a property lawyer like RPI.

 

[fernfurn]

Just bought a house with another block next door. Agent said they were on two titles but I checked with the council to make sure. Vendor had 2 titles but had coupled the blocks together to pay less rates. Council said it will not be a problem or cost much to seperate them again and found out sewerage and water already on. Yahooo!

 

[Peterw]

Sadly, I often see agents advertising "2 Titles" when in actual fact, all they have are "2 Allotments". As Darryl indicated, getting the "2 Titles" is not difficult. Doing one to two lot subdivision, is a different matter.

 

[willair]

Sadly, I often see agents advertising "2 Titles" when in actual fact, all they have are "2 Allotments". As Darryl indicated, getting the "2 Titles" is not difficult. Doing one to two lot subdivision, is a different matter.

That can be a very big trap that one,and most times the house will sit in the middle of the 2 titles,not that whats sits on the property is a problem that can be levelled and cleaned with in 24 hours,the real costs come when you split them..