What They Are
The boundaries for each lot in a community scheme are defined by surveyed land measurements. They are unlimited in height and depth unless otherwise specified. The owner of each lot is responsible for the maintenance and insurance of any building on their lot. They have no obligations for the maintenance or upkeep of any other building. The community corporation is responsible for insuring any buildings or structures in common areas. We are one of the leaders in this service.
We’re specialists in the Community Scheme, the second of the titles. The boundaries of each lot in a scheme are defined by surveyed land measurements. They’re unlimited in height and depth, unless otherwise specified. The owner of each lot is responsible for the maintenance and insurance of any building on the lot. They have no obligations for maintenance or any building upkeep. This falls into the hands of the community corporation for insuring any buildings or structures in common areas.
Just like the Community Strata scheme, the corporation plays an important role. Once the plan has been deposited, the community corporation is formed – consisting of the current owners of the lots in the scheme. Their role includes administration and maintenance of the ‘common property’, enforcing the by laws, and managing any development contracts.
Owners must meet at least once a year to make sure the scheme is insured and to bring any current issues to the table. Each owner has one vote and if a lot is owned by two or more people, they still share one vote.
Community Schemes are part of what we do at Stock Land Division. Every property project has its own set of circumstances. By working with us, you’re partnering with a team who has over 15 years of experience. We can assist you with the entire process. If you’re developing land and require our expertise, get in touch with us on 0408 801 141.
Many home and land owners, builders, conveyancers and government agencies use our services. Our aim is to provide you with the most accurate, up to date information to help you save money and time. With our long history, we know the expected costs and timeframes of every stage – and we’ll work on your behalf to reduce them.