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Consolidation is when the land contained in two or more adjacent titles is consolidated into a single lot and a new child title is issued to replace the parent titles. It can be thought of as the opposite to a subdivision.
What are some examples of when consolidations are done?
- If a land owner has acquired a parcel of abutting land from Council, e.g. a discontinued laneway or road, it is a common requirement of the acquisition that the two lots are consolidated. The enables Council to rate the consolidated land in a single assessment, rather than have two separate assessments – one large and one small.
- If a land owner owns a vacant parcel of land abutting their principal place of residence (i.e. next door) that they no longer wish to pay Land Tax on, then consolidation of the two titles will create a larger single lot (and principal place of residence) that will be entirely exempt from Land Tax.
- If a land owner owns a vacant parcel of land abutting their principal place of residence (i.e. next door) and they wish to extend their existing house onto their neighbouring land, then consolidation will enable this.
A Plan of Consolidation is first prepared by a surveyor or town planner, approved by Council, and then released for lodgement by a conveyancer or legal practitioner. Both (or all) of the titles to be consolidated must have the same ownership, and if any or all of the titles are mortgaged, then the mortgagee’s consent is required.
For more information about consolidation, please contact Glenferrie Conveyancing in Northcote on 03 9815 2351.