Rates adjustment on a subdivided property?

Discussion in 'Legal Issues' started by beachgurl, 25th Mar, 2015.

  1. beachgurl

    beachgurl Member

    Joined:
    15th Aug, 2007
    Messages:
    1,437
    Location:
    sydney, nsw
    I've just sold a property in Brisbane. It settled 2 weeks after titling was issued on the 2-lot subdivision. So I still own half of the original block. I asked my conveyancer (solicitor) about rates/water adjustment and she said that as the rates were paid for as one lot at the last rates notice that there is no adjustment for rates that have been paid in advance on the sale of half of that original block.

    Does anyone know if that is actually the case?
     
  2. bellz

    bellz Member

    Joined:
    19th Mar, 2011
    Messages:
    21
    Location:
    Qld
    Yes that's correct. As registration was only recent, rates were on the block as a whole. DNRM will need a new valuation on both blocks and rates will then issue on each separate lot, backdated I believe to the date of registration. Hope that makes sense.