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Moiety Title proeprties

Discussion in 'The Buying & Selling Process' started by sumterrence, 19th Oct, 2015.

  1. sumterrence

    sumterrence Well-Known Member

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    Hi Guys,

    As strange as it pronounce, what are the limitations of Moiety Title properties?

    I'm also struggle to find LVR information on these title too.
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    never heard of them. what state is this in?
     
  3. sumterrence

    sumterrence Well-Known Member

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    it only happens in SA I believe, I've read some Google stuffs but I'm still not clear on what the heck is this......
     
  4. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Very obscure and painful to deal with - very few lenders will touch it at all.

    It's possible to convert Moiety titles to Torrens/community - if you play your cards right this can be a value increase just from paper shuffling.
     
  5. sumterrence

    sumterrence Well-Known Member

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    Thanks for the reply Corey, can you further elaborate on this matter or suggest any links or website that I can read up on for more information.

    Also anyone know which banks will lend to Moiety Title and if they do what is the LVR looks like?
     
  6. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    70% LVR through BankSA - no other ST George brands can do this anymore. It's essentially an old type of title which covered maisonette/attached dwellings primarily. Each deal is assessed case by case so it's important to make sure the loan is submitted correctly noting the parameters.

    I've had a client convert one of these before - it depends on the particular property but most can switched over to the current title types.

    https://www.sa.gov.au/topics/housin...es-of-titles/company-titles-and-moiety-titles
     
    Last edited: 19th Oct, 2015
  7. D.T.

    D.T. Adelaide Property Manager Business Member

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    It's basically the matter of owning a unit whereby you're a registered owner in the proportionate title of the land that the unit represents. Some were done in SA a long time ago but they're no longer allowed. The existing ones can be bought and converted.

    Similarly strata is no longer done in SA either - its all community or torrens now. The existing stratas have stayed that way and it gets confusing in apartment blocks where there might need to be a strata plan within a community title (such as at Holdfast Shores).