Malcolm Smith Consulting was engaged by the owners of a residential flat to complete an update to their Composite Title – to incorporate a conservatory that has been added since the original subdivision of their property. The owners were selling their flat, and were unaware that their Composite Title was “imperfect” by virtue of the Flat Plan not fully reflecting the extent of the physical improvements on the property. This was identified by the purchasers who requested the necessary update prior to settlement.
This project is typical of many “amending” subdivisions involving Composite Title ownership. A standard subdivision process is required albeit the extent of the land holdings between the flat owners normally does not alter. Therefore subdivision consent is required from the Local Authority.
The main exercise is then the preparation of a new Flat Plan that illustrates the altered extent of the structures (being leased) within the land parcel subject to the lease. This plan must be lodged at Land Information New Zealand in the same manner as other legal surveys. The final phase involves the legal work to enable the new Composite Title to issue.
An important matter with these exercises is the agreement and full cooperation of ALL of the other owners of flats within the overall property.