@Paul2000 said:
The difference between strata and company title of course is that under company title the company, eg XYZ Pty Ltd, owns the building and you then hold shares in the company and that gives you a right of occupancy to a particular area (flat No 2 for example). There is no concept of ”common property” under corporations law as far as I am aware. I certainly wouldn’t be engaging architects, engineers and lawyers unless I had everyone well and truly onside first.
The agreement reached at the first Extraordinary meeting between shareholders was to have plans for the redevelopment of the void cavity drafted by an architect and approved by Council. If Council had refused permission to have the area developed into a habitable area then the proposal would have ended. At the same meeting a formula was devised and agreed to by the shareholders of a valuation of the finished apartment with two bedrooms minus the valuation of the one bedroom that exists. The balance would give a 50% discount for using a space that was of no use to anyone else. The solicitor was engaged to draft the proxy approvals and paperwork without the need for another meeting to be held. All shareholders were on side until one had second thoughts later on and reneged his approval.