There are two types of lot entitlements in a Community Titles Scheme

Know your worth, hold your own power, be you – Morgan Harper Nichols

There are two types of lot entitlements in a Community Titles Scheme:

1. Contribution Schedule Lot Entitlements (CSLEs); and
2. Interest Schedule Lot Entitlements (ISLEs).

You can find the CSLEs and ISLEs at Schedule A of the Community Management Statement for your Scheme.

Each type of lot entitlement is used in different calculations, as outlined below.

What are Contribution Schedule Lot Entitlements?

The CSLEs are used to calculate:

• an owner’s share of levies (not including insurance); and
• the value of an owner’s vote if a poll is called when voting on an ordinary resolution at a general meeting.

What are Interest Schedule Lot Entitlements?

The ISLEs are used to calculate:

• an owner’s share of common property and body corporate assets (e.g. if the owners want to redevelop and the Scheme ends);
• the proportion of the insurance premium payable by a lot subdivided by a building format plan (although this proportion may be fairly adjusted irrespective of the ISLEs); and
• the value of a lot for the purpose of calculating a local government rate, tax, charge or other cost.

To learn more about your lot entitlements, or to discuss your body corporate issues, contact our friendly team.

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