MoneyProperty developer scores free home under controversial law

06:46  01 november  2018
06:46  01 november  2018 Source:   msn.com

Halikos Group's Northcrest acquisition in Darwin will see no further investigation

Halikos Group's Northcrest acquisition in Darwin will see no further investigation The NT Government's spending oversight body has dropped its inquiry into how a prime commercial property was given to a Darwin developer for free, despite acknowledging that infrastructure department officials withheld probity information on the deal. 

MoneySydney property developer awarded home under squatting laws after renting it out for 20 years. A Sydney property developer has won the ownership rights to a home in the inner west after finding it empty and renting it out for two decades.

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Property developer scores free home under controversial law© Provided by Nine Digital Pty Ltd Mr Gertos legally owns a home he helped himself to 20-years-ago because of squatter's rule. A property developer has won ownership rights to a deceased estate in Sydney’s inner west after he helped himself to it 20-years-ago.

Bill Gertos gained entry to the double-brick home in Ashbury in 1998 and changed the locks after the previous tenant, an elderly woman, had died.

The property is now worth an estimated $2 million.

Despite never living in the property, a court has ruled Mr Gertos is now the legal owner because of controversial squatter’s rights.

Over the past two decades, Mr Gertos has done a number of renovations on the property and has even leased it to renters even though he wasn’t the legal owner.

Under law, individuals are granted ownership of a property if they have openly occupied it for more than 12 years without permission from the owners.

“What right do you have – to knock on the door and barge in and assume the house is empty?” one angry local told 9News.

The family of the previous owner recently filed an injunction to attempt to prevent Mr Gertos from claiming ownership of the title. However, the injection was dismissed by a judge yesterday.

The family were also instructed to pay for Mr Gertos’ legal costs.

Northern Territory home owners anxious as property prices reach lowest point since 2009.
Using a combination of her life savings and a bank loan, Penelope Paton, then 26, made the biggest purchase of her life. 

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