"Residue for Future Flat" on title

[cube]

If the legal description of the title is, eg. "RESIDUE FOR FUTURE FLAT ON LOT xx DP xxxx-HAVING 1/2 INT IN 1282 SQ METRES", what does it mean?

In this context, the property is one of two on a cross-lease. Does the legal description mean it has been earmarked for subdivision?

[donna]

Umm we need a property lawyer aye. Ivan where are you?

cheers,

Donna

[eri]

possibly means

after the cross-leasing there was land left for a granny? flat?