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Greign Estates Ltd - The pros and cons of sectional title ownership

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Sectional title living has grown in popularity over the last decade for reasons which include heightened security and a more communal way of living. Sectional titles tend to be more affordable which makes it easier for young people to own their own property. However buying into a sectional scheme has its advantages and disadvantages.

 What is a sectional title?

The concept ‘sectional title’ describes the separate ownership of units or sections within a complex or development. When you buy into a sectional title complex, you purchase a section or sections together with an undivided share of the common property, which are known as units. A sectional title unit may refer to anything from a mini subtype house, a semi-detached house, a townhouse, a flat or apartment to a duet house.

 Ownership of sectional title property involves a number of elements, bearing in mind that the unit consists of a section plus an undivided share in the common property.

The first element is the section, which is exclusively owned by the owner thereof. The second element is the common property, which is owned by all the owners in undivided shares, meaning that you become a joint owner of the common property of the sectional title scheme. The third possible element is the right to exclusively use certain parts of the common property for example a garage, a garden or a storeroom. Even though the owner does not own the exclusive use area, he is the only person that has the right of use thereof.

Read more at: http://www.avidfirefly.co.za/63069/index.php?option=com_k2&view=item&id=90:the-pro%E2%80%99s-and-con%E2%80%99s-of-sectional-title-ownership&Itemid=38

Nairobi Office

Chester House, 1st Floor Suite 23, Koinange Street,
Tel: 020 2230 682/2217348;
Mob: 0722289881, 0727769694, 0722456015

Mombasa Office

Electricity House, 4th Floor, Nkrumah Road,
P.O. Box 3380 - 80100, Mombasa

Nyeri Office

Mt. Kenya Hse, Ragati Road 1st Floor, P.O. Box 1082, Karatina

Kiambu Office

Mt. Kenya Hse, Chamuka Road, P.O. Box 70915-00400 Nairobi

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