We have a house on 400 acres in Western Australia. On the land is a spring which we share with my parents on a neighboring property. We want to sell our property but obviously our parents are concerned about losing the rights to the water. (gets extra tricky as the land was gifted to us by them 20 odd years ago).
They currently don't use this water but still have a windmill on it and would use it if their current supply is affected. My question is would we be able to lodge a caveat or interest of some sort on the title giving them access to the water for say 10 or 15 years (they are currently in their seventies) before selling it? And if so what affect would that have on the ability of purchasers getting mortgages etc?
They currently don't use this water but still have a windmill on it and would use it if their current supply is affected. My question is would we be able to lodge a caveat or interest of some sort on the title giving them access to the water for say 10 or 15 years (they are currently in their seventies) before selling it? And if so what affect would that have on the ability of purchasers getting mortgages etc?