You can go to any extent to build an empire of your own. When it comes to your property, you would never want it to go in vain. Company title in NSW has proved to be the greatest solution to a number of issues regarding a huge property which mostly comprises of a commercial tag.
In the company title, a group or an individual purchases the entire property which is differentiated into specific units. The group or individual that forms a board of director of the company title and takes all the decisions for the property. For instance, if renovation has to be done after a couple of years, approvals from the board of directors need to be taken for the work to be undertaken. Nothing can be done without a positive nod of the board of directors. Each and every power depends on the board of directors starting from renovation to utilisation of the property. The board of directors consist of shareholders of the property. The sharing is done depending on the units and each of the individuals has to give up a positive note on every matter. The selling of the property also depends on the combined result taken by the board of directors.
A property under company title in NSW can either be used as a residential complex by the shareholders or can be put for rent or lease. If the property is not up for lease this may mean the shareholders are occupying the entire property and using it as a residential complex. The board of directors can also form multiples guidelines according to which a person can take the lease for a stipulated time.
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