Subdividing property involves dividing one larger lot of land into several smaller titles. For property investors or developers, this represents an excellent opportunity to maximise your income. Divided land can have several units built on it to provide more rental income than a large property could. By dividing your land, you can also sell the lots separately for additional profits.
Redividing property may have its advantages, but you also need to follow strict subdivision laws which can change from state to state, city to city or even suburb to suburb. Missteps in the subdivision process can be costly and time-consuming, and there are subdividing costs that you will need to consider even if everything goes right.
For the clearest information, guidance and services regarding subdivision in Melbourne, talk to Just Conveyancing. Our property conveyancing professionals are experts in the subdivision process and can ensure the best outcome for you.
While the process will differ from area to area and application to application, here’s what you can generally expect from subdivision.
Obtain a copy of the title
A title search is required to plan for the subdivision process
Engage a surveyor
A surveyor is required to survey and prepare the land as part of your council application
Liaising with the council will differ from area to area, but generally, they will approve your plans if all requirements have been met
There is a multitude of documents, forms and checklists that will need to be prepared and lodged with Land Victoria in order to create the new lots of land. A conveyancing service is crucial to this step in the process
This body will examine all lodged documents and register the new plan and Certificates of Title when the process is complete
Even when the process runs smoothly, subdivision costs can reach thousands of dollars or more. When you consider the legal processes, applications and documentation involved, your timeline and budget could easily blow out.
Just Conveyancing offers subdivision advice and complete management of the legal aspect of subdivision. From correct documentation to strict lodgement times, we provide precious savings throughout the entire process.
To enquire about subdivision costs and our subdivision conveyancing services, call (03) 9557 1557 or leave us a message online.