Many people looking to break a piece of land into #SmallerLots want to have a structure that enables pre-sale. Sometimes this is a small area and a few lots, other times it’s larger and involves many lots. The owner would like to have a safe structure that protects everyone’s interests, especially the buyers, while giving them access to some of the money.
There can be hurdles, when the different parties are talking about timing of payments, security and protection.
#TenureSolutions has recently developed a method that meets these needs. A developer has an option over a piece of land and has a DA for 50+ lots. They have agreements with builders to purchase several groupings of these lots, and the builders are willing to pay upfront, which will enable all the civil works to be undertaken. The builders require some security of title; however, registered titles cannot be issued until survey plans are approved by local authorities. Catch 22.
However, #TenureSolutions has a relatively inexpensive, fully enforceable interim structure that enables all of these needs to be met. We create titles, which gives security to the purchasers for their purchase payments while civil works are completed.
On completion of the standard process of #CouncilApproval of survey plans and lodgement of these plans for registration with a government land registry title to each lot will be in the names of the initial purchasers.
The Tenure Solutions structure can be applied to any piece of land; none is too small or too big.