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In a small happy block of 4 apartments in NSW we are thinking of selling our on title, unused lap-pool to our lovely neighbours who could then combine it with their on-title, lap-pool to create one usable sized pool. We have to take the lift down from our apartment to get to our pool and therefore never use it but the neighbours walk directly out onto their pool terrace and use theirs all the time. We would offload a maintenance headache and cash drain and having the whole ground floor area and a full size pool would really enhance their property. Noise is not an issue and we don’t intend to move for at least 5 years. Discuss!
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It’s certainly possible to do. I think you should consult a strata lawyer. At the very least the Plan of Subdivision will need amending. Possibly units of entitlement and liability as well. And you probably need a unanimous resolution of the OC. Then there will be the other matters of swimming pool construction (if 2 were to be replaced by 1) which might involve common property, council approvals etc etc.
Strata lawyer.
stratatart (and interesting handle) – It’s a matter of assessing whether the costs and effort of off-loading your Owners Corporation’s “maintenance headache” can off-set the long-term benefit, but here’s a precis of the procedure:
- All Owners need to agree to the proposal via a unanimous resolution at a General Meeting.
- A Registered Valuer then needs to determine the value of the lap-pool, its fixtures and fittings, the surrounding area, then calculate a revised unit entitlement (U/E) and therefore levy contribution for now more expansive Lot, and incorporate that into a revised Aggregate U/E for the Plan – recognising that the U/E of other Lots may also require some concurrent amendments.
- A Registered Surveyor then needs to prepare a Plan of Strata Sub Division showing the reduction to the Common Property and the extent of new (more expansive) Lot.
- The Valuer’s Report and the Surveyor’s Plan then needs to be submitted to NSW Land & Property Information (incorporating the former Land Titles Office) for Registration of the changes to the Common Property, to the Owner’s Lot, and to update the Strata Title Plan to reflect all of that.
As I said, your O/C and the benefiting Lot Owner needs to weigh-up the costs and the longer-term benefits of the proposal, recognising that those costs should at least be shared equally between the parties.
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