What is a Company Title?
A company title is a form of property title that proves you have ownership in the “body corporate” of a building. Essentially, you’re a shareholder in a private company along with all of the other property owners of the building. If you’re curious about the advantages and disadvantages to a company title, then please read on.
Advantages of a Company Title
- Generally less expensive than Strata Titles
- Generally easier to resolve issues with the management of a company title building
Disadvantages of a Company Title
- Share value may not increase at the same rate as ownership with a Strata Title
- The “company” of shareholders must approve the purchase or rental of a unit
- Banks and lending institutions may be less likely to approve a loan for a Company Title
Technically, you don’t own the unit when you have a Company Title. Instead, you are ashareholder in a company that owns the building, which grants you rights to live in a particular space.
NOTE: It is essential to obtain a Company Title Report before making a purchase.
A company title report can reveal important information that you need to know before entering any financial transaction!
Detail such as:
- Your obligations as a shareholder
- Current financial health of the company
- Restrictions that may be placed on any tenant
- Whether or not you can rent the property
- Insurance problems or claims
- What the directors can and cannot do
- Repair and maintenance issues
- Rules regarding common areas and parking spaces
- Storage area regulations
- Balcony restrictions
- How much power the directors really hold
…and much, much more.
You deserve to know everything you can about a property before you invest your hard-earned money.
About Pink Inspections
Pink Inspectionssets the industry standard for FAST and COMPREHENSIVE Company Title Reports. You simply will not find a better service!
- All of our reports are prepared by experienced and insured inspectors.
- Our reports are detailed and easy-to-read.
- We have over 20 years of experience
- Over 600 conveyancing and legal firmsrely on our customised Company Title inspections for their clients
- We GUARANTEE fast service!