Being a proud owner of a townhouse is nothing less impressive. However, there are number of shortcoming in this kind of possession, one of which is maintain it. So, finally I have decided to sell it off and invest in another property. So I approached one of my friend working at housing development authority to take the right decision. After understanding my situation he informed me about the strata title and company title in NSW and advise me to take up the matter.
It took me some time to understand the entire scenario and the process that will be followed. He said that till now I had the company titled property and so it is hard to give up the property as a whole because it needs a lot of investment. This type of properties can only be handled by a board of directors of shareholders because of the intensity of investment. What I can do is break it down into strata title. The guidelines of the strata title stated that I have the authority to theoretically break up the townhouse into multiple sections and give it up for selling. By this, I will not only be selling the property but in a convenient way as the investment by the owner gets smaller and he is able to live individually in a big house. The owner of the new section will enjoy his own property along with utilising some common areas like staircase, garden, corridor and terrace. After changing documentation from company title NSW to start a title it took me three months to sell of the whole property easily.
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