The third big difference between shareblock schemes and either sectional title or HOA developments is that the shareblock company might not even own the underlying land . In KZN beachfront areas , especially , we often find that shareblock apartments were developed on land leased from the municipality , in some cases for 99 years and in other cases for shorter periods .
In fact , we are currently dealing with several instances in which the lease has expired , or the municipality is calling in a lease and the shareblock company now has to either obtain the consent of the shareholders to purchase the land , or try to re-negotiate the terms of the lease .