Company title is a scheme of land ownership through which an organisation owns the title to the land. Shareholders who owns the share of such a company in New South Wales (NSW) do not technically own the land, rather they are shareholders in the company that owns the land. Many organisations wish to change their company title into strata title in NSW. This procedure of conversion is quite tedious and cannot be handled by the company officials alone. Thus, to help organisations in the laborious process of conversion, there are professionals planners who work in a team to design the essentials of the procedure.
Before conversion, an organisation needs to seek the approval of at least seventy five percent of the shareholders. Following this the company members need to lodge a strata plan at the Land and Property Information council. Also, the council needs to approve the conversion of property from company title to strata title. Now, seeking this approval is not that easy. The council will approve the conversion only if the company building abides with all the necessary building codes.
A commercial building covers a huge area, hundreds and thousands of employees are working within the premises all throughout the day. Therefore, the premise needs to be safe and sound. There should be fire and combustion safety, proper drainage and sewage facilities, proper water flow, electrical safety and numerous other durability concerns. There must be proper emergency management facilities within the building. If all such regulations are followed, only then the council approves a company’s conversion application. It is here, that the organisations require professional help. The planning team have engineers, surveyors, designers, architects and lawyers to handle all such requisites. They can conveniently prepare Strata plan abiding with all the building codes. This makes the process of conversion from the company to strata title in NSW quite easy.
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