Valley of Diamonds

Apartment Deeds Vs House Deeds
Remember that your property rights as an apartment owner differ somewhat than those of a house owner in that with an apartment, the owner does not normally own the freehold.

Each owner of Diamond Valley apartments has a leasehold over his/her property for 900 years. The Management Company, in which each owner is a shareholder, is the landlord of all properties in Diamond Valley. 

At the end of the leasehold period (not that any of us should really be worrying about c900 years from now) the apartment reverts to the ‘landlord’ who is the Management Company, so in a way it is like the property reverting to the owners.

Owners should familiarise themselves with the content and schedules of their lease and deeds documentation. If you don't have a copy to hand then the Solicitor who handled the purchase of your apartment should be able to provide you with a copy.

These important documents contain the House Rules for the development, which are an integral part of your registered deeds and with which all apartment owners are legally obliged to comply.

Owners who rent their apartments to tenants are obliged to inform them of the House Rules attached to the property.

 

 

 

Diamond Valley Legal Indenture