What happens to council valuation (and rates) after cross lease conversion to f/hold?

[krypton_john]

have you talked to council in how they will treat this?

Well I have tried. Phone in, wait on interminable hold, eventually explain what the call is about, get told the appropriate department will call me back within two weeks. Two weeks later they call me back and tell me I need to talk to a different department (Ratings). Call the council again, interminable hold, ask to talk to Ratings, put back on hold, eventually given a different phone number to call. Call that number... all it does is ring and ring and then a message says "Call back later".

But... the original problem may have been resolved without this information. In an unexpected development our neighbour has come around and agreed to proceed!

[krypton_john]

What's more likely is your CL neighbour with the fee simple title will not immediately realise a rise in value but going forward it would and fee simple gives the homeowner more freedom etc.

You could get a valuer in - so your neighbour hears it from someone in the industry.

cheers,

Donna

Hi Donna,

I asked a valuer about this option. He said that route would require two registered valuations - a valuation as is, and a valuation based on fee simple title! So a $2k exercise with no known outcome.

I should have been a valuer.