One owner buying several units

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  • 28/02/2017 at 11:23 am #10942 Reply | Quote
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    Flatchatter

      From reader IJ:

      I live in a block of flats with four units. Two of the units are owned by one person, who is a very difficult person to deal with. She is an investor and lives elsewhere.

      Recently, one of the other two units sold. I am fairly sure the investor is the buyer. If this is so, she will have slightly more than 75 percent of the unit entitlements.

      Can she force me out of my unit under the 75%-of-units-can-now-sell-the-block-to-a-developer rule?

      At the very least, if one person owns three units in a four-unit block, this will reduce the value of my property, yes?

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    Reply To: One owner buying several units
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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