Company titles and moiety titles
Company titles were used before 1967 for groups of units and flats and, although they are no longer common in South Australia, some still exist. There are two main types company titles and moiety titles.
A company is registered on the certificate of title as the sole owner of the land a group of units sits on. Owners are issued with a share certificate in the company. Each unit owner has the exclusive right to occupy their unit and have the right to use common areas. When a unit is sold the share certificate is transferred to the buyer.
In a moiety title, sometimes referred to as a cross lease, the ownership of a unit comes from being the registered owner of a share of the land the group of units sits on. The owner is leasing the right to occupy their unit, along with the right to use common areas, from the other unit owners.
Converting company titles and moiety titles
If you are considering converting a company or moiety title it is strongly recommended that you consult a professional surveyor and conveyancer or solicitor due to the complex legal nature of the transfer.
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