Hi everyone My partner lives on a residential property in NSW on a block of land that has already been subdivided into 3x lots under a single title (auto-consul) owned by one person. The intention is to knock down the house and build a triplex on the land and we want to know how to split the title into 3 titles. What is the process of splitting the title into 3 owners before construction commences? We have been told to apply and get approval from our local council? Also how long will this whole process normally take?
Unlikely that if u have shared walls and services not completed that you can get subdiv before completion That makes for lots of fun if you need finance ta rolf
I was able to get a subdivision approved prior to construction with a lot under the minimum lot size, this was possible by using an 88b instrument which burdened the lot with approved plans that meet design guidelines for setbacks/POS/lot coverage etc. I then was then able to use the assumed value of the completed construction on the land to achieve an acceptable LVR to finance the construction completely and not be out of pocket.
Thanks for the response guys. The property has already been subdivided so I'd like to know how to seperate the title into 3 before construction commences