› Flat Chat Strata Forum › Common Property › Building on co-op land – who owns it? › Current Page
26/06/2013 at 9:28 pm
#18839
Many years ago I was involved in putting up buildings and plant on leased property.
From an accounting viewpoint, we could not capitalise the buildings or plant as assets, they were immediately written off as an operating expense. So although we paid for the buildings, we could not “own” and had to leave them behind when the lease expired.
I imagine the same rules would apply in this case, unless there was some prior agreement with the co-op.