NICO Subdivisions

What happens when two neighbours want to realign their boundaries?

For example, you want to buy a strip of land from your next-door neighbour.

Another example, what happens if you and maybe other unit owners want to enclose part of the common property of the Owners Corporation as your private courtyard(s)?

These are two not uncommon scenarios and will involve a re-subdivision of the land titles. 

The result will be a NICO Subdivision or direct speak a “Not In Common Ownership” Subdivision.

Whilst the agreement is the starting point, the endpoint is your title will be updated to reflect the new enlarged and better lot.

But its the pathway in between that is messy. It’s messy because you will invariably end up with a title that has not just your name on it, but that of your neighbour’s name as well. Its the process of untangling this amalgamation of names and titles.

NICO Subdivisions enquiries

If you would like a quotation –

Without putting too fine a point on it, here is a brief outline of the steps

Start

Agreement

Lawyer (that’s us)

Surveyor

Plan Subdivision (NICO)

Council Certification which might involve a planning permit

Owners Corp Resolution (if applicable)

Mortgagee Consent 1

Mortgagee Consent 2

Lodgement Subdivision – pay fees

Registration of the NICO plan

NICO Transfer(s)

Valuations

Stat Dec 1

Stat Dec 2

Stamp Duty (State Revenue Office SRO assessment)

Assessment – pay Duty

Mortgagees

Lodgement Transfer(s)

Finish