For the purposes of preparing a plan under this Part, an initial owner (Developer) must engage a licensed surveyor to set out the initial allocation of lot liability and lot entitlement in the plan.
To specify how lot liability and lot entitlement must be allocated.
1. Lot liability in the plan must be allocated equally between the lots unless :
- there is a substantial difference in size between the lots; or
- different lots have a bearing on the consumption or use of common utilities or the cost of maintaining the common property; or
- the number of occupiers in each lot has a greater bearing on the consumption or use of the common utilities or the cost of maintaining the common property than the size of the lot; and
2. Lot entitlement in the plan must be allocated on the basis of the market value of the lot and the proportion
that value bears to the total market value of the lots.
Find out more at https://www.legislation.vic.gov.au/as-made/acts/owners-corporations-and-other-acts-amendment-act-2021
