I'm not so confident in our Conveyancer's advice as she originally said we couldn't and now says we can.
Background......we have some townhouses that were community strata (in SA) but when lodged to the LTO they knocked it back and requested that it be changed to a straight community title (each being an individual lot with dimensions).
I would like to be able to insure each lot/dwelling individually (not sure that i will but would like the option if i choose to). Conveyancer originally said we couldn't and that was stated in the Community Titles Act under Section 103 which states:
103—Insurance of buildings etc by community corporation
(1) A community corporation must insure—
(a) the buildings and other improvements (if any) on the common property; and
(b) in the case of a strata scheme—the building or buildings divided by the strata
plan.
Maximum penalty: $15 000.
(2)
However, ours are no longer strata and are straight community title so i queried again whether this changes our situation in terms of the insurance. Conveyancer advises that yes, we are now able to insure the homes individually but only if they have individual roofs
The homes are attached (just like a semi/duplex except there's a few of them not just 2) so i'm not sure if the type of roof and how its designed is the determining factor on whether we can have individual insurance policies for each home or not??
Anyone know either way?
Background......we have some townhouses that were community strata (in SA) but when lodged to the LTO they knocked it back and requested that it be changed to a straight community title (each being an individual lot with dimensions).
I would like to be able to insure each lot/dwelling individually (not sure that i will but would like the option if i choose to). Conveyancer originally said we couldn't and that was stated in the Community Titles Act under Section 103 which states:
103—Insurance of buildings etc by community corporation
(1) A community corporation must insure—
(a) the buildings and other improvements (if any) on the common property; and
(b) in the case of a strata scheme—the building or buildings divided by the strata
plan.
Maximum penalty: $15 000.
(2)
However, ours are no longer strata and are straight community title so i queried again whether this changes our situation in terms of the insurance. Conveyancer advises that yes, we are now able to insure the homes individually but only if they have individual roofs
The homes are attached (just like a semi/duplex except there's a few of them not just 2) so i'm not sure if the type of roof and how its designed is the determining factor on whether we can have individual insurance policies for each home or not??
Anyone know either way?
