FAQ
Questions we are commonly asked are answered below
You will have a direct property interest - you will own a legal interest in the home and receive a title deed for the home naming yourself and the other co-owners as tenants in common, or a title deed for your share naming you as the owner.
There will generally be between 4 and 12 shares created in each home, depending on the type/size of the home. This means there will usually
be a maximum of between 4 and 12 owners for each home.
You can buy as many shares as you like or think you will use. Typically a 1/6th share would give an owner 8 weeks of usage a year.
As with any property investment, appreciation is not guaranteed. The market fundamentals that apply to whole property ownership also apply to shared ownership. Any capital growth (increase in value) or loss will be shared amongst all owners of the property.
A Shared Ownership Arrangement is a Managed Investment Scheme and subject to the requirements of the Corporations Act 2001. The applicable regulatory body is the Australian Securities and Investments Commission (ASIC). The Manager must be a licensed public company and all key scheme documents registered.
Yes. You can organise a number of people to be listed in your shared ownership (a limit may apply). By joining with others you can further reduce your cost of ownership. A share can also be purchased by a business, company or family trust.
You can sell your share in the home at any time, provided the buyer
agrees to be continue participation in the shared ownership arrangement.
Your co-owners will have a first right of refusal if you wish to offer up your share for sale.
During your allocated period of usage for your home you can:
- Use the home yourself.
- Allow family or friends to use the home.
- Keep the homevacant.
- Rent out the home(depending on the property type).
- Swap the allocated time with co-owners of the home if they agree.
No. You do not need to know or interact with the co-owners of your home.
Dransfield organises the co-owners.
These are just a few of the questions we get asked. If you have another inquiry or want to know more please call on (02) 8234 6633 or email us.
