Shared Kocans - Knowledge or Experience Anyone?

Mallard


Joined: 14/05/2009
Posts: 107

Message Posted:
23/11/2011 08:26

We have a buyer for our property and during searches it was revealed that although our builder had his permit to build the five dwellings on our site he never applied for it in respect of the pools. We have a Kocan for a one fifth share and to the best of our knowledge only two others have Kocans.

We have been told that we will have to have the original plans redone to include the pools or at least put the process in motion before we can move forward and will have to leave a retainer with our lawyer if it isn’t finished before we complete. However, because we only have a shared Kocan we must first gain permission from the others on the site before we can do this. We always understood this procedure was necessary with a shared Kocan.

My question is, if this is the case with us why was one of the dwellings on the site recently sold to a TC in record time and without any knowledge or recourse to the rest of us before the sale went through? I guess the answer will be that there is one s

skybluesam


Joined: 24/12/2008
Posts: 447

Message Posted:
23/11/2011 08:39

Hi Mallard,

I am going through exactly the same process as we speak and can give you valuable information on this one.

E-mail me at nudger@ayza.net or give me a buzz and I can explain

Nick 0533 8622815

Mallard


Joined: 14/05/2009
Posts: 107

Message Posted:
23/11/2011 09:08

Thanks Nick. Will be in contact shortly.

Gordon

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
23/11/2011 12:09

With regards to the quick sale by a TC they don't have to gain PTP so buy a house in a matter of days/ weeks . They also usually wouldn't buy a house without its individual kochan signed and sealed.

Hopefully that may shed some light for you.?

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
23/11/2011 12:55

Any info on the pros and cons here would be appreciated to maybe share with others. I could then place it on my site:

http://no-deeds-no-money.moonfruit.com

Mallard


Joined: 14/05/2009
Posts: 107

Message Posted:
23/11/2011 17:29

Thank you to Blade and Walkerscott for replying.

Blade, we have been told that our new TC neighbour bought knowing the pools weren't on the original plans so he couldn't get an individual Kocan as final approval wouldn't have been given.

Walkerscott, whatever we find out we will keep you posted for your website, which is very informative.

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
23/11/2011 17:40

Blade;

with all due respect,a none tc can also buy in a matter of days or weeks.............and then have to wait for ptp before having kocan.

The only difference I can see here is that tc can get things over looked through uncles/cousens.



and walkerscott

no deeds no money is a waste of time since you have to wait for ptp.you are just wasting your time..........



why dont you do something that might be useful and campaign for ptp to be scrapt!