After dissolution, each owner gets their share of the assets, and each property will be managed individually, like each fish swimming in its own pond.
Yes, typically all owners need to be on board for the dissolution, so everyone can have a say in the decision.
The timeline can vary widely. Sometimes it can be wrapped up in a few weeks, while other times it might take a few months, depending on the circumstances.
It's wise to get legal advice, as it helps to know your rights and responsibilities, making sure everything goes smoothly.
The process typically involves gathering consent from all owners, notifying relevant parties, and following any legal procedures to officially separate the properties.
People often dissolve pooled units for better control over their property, to manage their own finances, or to address specific issues that come up in a shared arrangement.
Dissolving a pooled unit means breaking apart a group of properties that were managed together, allowing each property to operate independently.