Unit title developments are becoming increasingly common as
cities grow and become more high density. We identify some key
areas where real value can be added to both new and existing unit
title developments.
Voting rights
While surveying, planning and fire safety requirements are dealt
with during the initial phases of unit title developments, often
the distribution of owner voting rights is something that is
overlooked.
Structuring considerations become vitally important when
developments include carparks or storage units that are contained
in their own separate certificates of title. It seems logical to
ensure that owners of residential or commercial units in
developments have greater rights than someone who only owns, for
example, a carpark. However, due to the voting regime under the Act
(being one vote for each principal unit) active consideration of
the structure of unit ownership needs to be given to ensure logic
prevails.
