Hi guys just a quick question! Been receiving mixed answers from family and friends so I thought id ask here!
Sister has a 850m2 block and has been council approved for dual occupancy! Apparently the land is not big enough to sub divide ( it needs to be 900m2 ) so I was planning on building the second dwelling with my funds and want it to be in my name upon completion. I have come to an agreement with her in regards to paying her on the side cash for the land.
It will be sharing a drive way as per the plans - so common property. I am asking was is the best way to go about this? Upon completion can I strata title it in my name? Or is there a better way? Caveat etc?
Not only for asset protection but for tax and legal purposes! ie : will it add to my land tax, as I didn't purchase the land as it was not sub divided....
Has anyone had experience with this i'd love to hear your opinion! The dwelling will be in Wollongong if that matters for regulations etc compared to other states whathaveyou
Sister has a 850m2 block and has been council approved for dual occupancy! Apparently the land is not big enough to sub divide ( it needs to be 900m2 ) so I was planning on building the second dwelling with my funds and want it to be in my name upon completion. I have come to an agreement with her in regards to paying her on the side cash for the land.
It will be sharing a drive way as per the plans - so common property. I am asking was is the best way to go about this? Upon completion can I strata title it in my name? Or is there a better way? Caveat etc?
Not only for asset protection but for tax and legal purposes! ie : will it add to my land tax, as I didn't purchase the land as it was not sub divided....
Has anyone had experience with this i'd love to hear your opinion! The dwelling will be in Wollongong if that matters for regulations etc compared to other states whathaveyou