The VERY unusual property law that allowed a developer to snag a $1.7million home for FREE - and you could do the same with a locksmith and a LOT of patience

  • Bizarre laws surrounding squatters have gifted a savvy developer a property
  • The property, which he has unofficially owned for 20 years, is worth $1.7 million
  • He was recently granted the official rights to the home by the Supreme Court
  • It isn't the first time he has tipped his toes in controversial property matters
  • In 2015, he demolished heritage listed buildings and was fined $150,000

By Brittany Chain For Daily Mail Australia

Published: 10:48 EDT, 30 October 2018 | Updated: 10:56 EDT, 30 October 2018

Bizarre laws surrounding squatters have gifted a savvy developer and tax agent a property worth $1.7 million.

Bill Gertos came across the humble abode more than two decades ago, when he was visiting a client on Ashbury Street in Sydney's inner-west.

After learning that the elderly woman who had previously lived at the home had died, Mr Gertos decided to make the property his own, the Daily Telegraph reported.

Bill Gertos came across the humble abode (pictured) more than two decades ago, when he was doing business in the Ashbury street in Sydney

Bill Gertos came across the humble abode (pictured) more than two decades ago, when he was doing business in the Ashbury street in Sydney

But, instead of tackling his mission by traditional means, Mr Gertos simply changed the locks and began renovating.

Soon after he began renting out the home to tenants, which he has continued to do so for 20 years - all without ever having his name legally on the property's papers.

Now, after embarking on an almost unheard of legal practice and executing his squatter's rights, Mr Gertos owns the $1.7million property.

Bizarre laws surrounding squatters have gifted a savvy developer and tax agent a property worth $1.7 million (pictured)

Bizarre laws surrounding squatters have gifted a savvy developer and tax agent a property worth $1.7 million (pictured)

He told the NSW Supreme Court he stumbled across the property in 1998 and wanted to be registered as the owner of the property.

And the NSW Registrar-General agreed.

Under NSW law, a squatter can be deemed the owner of a property if they live there for more than 12 years.

In October last year, the Registrar-General notified the family of the previous owner Mr Gertos was to be granted ownership of the $1.7 million property.

But it wasn't all smooth sailing.

When he came to learn the property was deserted, and that the last person to occupy the home was an elderly person who died, he decided to make the property his own

When he came to learn the property was deserted, and that the last person to occupy the home was an elderly person who died, he decided to make the property his own

The family of Henry Thompson Downie stepped forward, claiming to be the rightful owners of the property, which Mr Downie purchased in 1927.

They argued Mr Gertos' aquisition of the property was not 'open', a criteria stipulated in the conditions for squatters rights.

But, the Supreme Court found he had acted in accordance with the policy and granted him the property.  

Luck hasn't always swung in Mr Gertos favour, though.

The family of Henry Thompson Downie stepped forward, claiming to be the rightful owners of the property, which Mr Downie purchased in 1927

The family of Henry Thompson Downie stepped forward, claiming to be the rightful owners of the property, which Mr Downie purchased in 1927

The cunning developer was fined $150,000 in 2015 for ignoring the heritage listing of a property on Parramatta Road in Annandale and illegally demolishing the building.

Leichhardt Council had, in fact, approved a redevelopment of the site as long as the facade was preserved.

However, after two failed attempts to get this amended, Mr Gertos demolished the building regardless.  

As such, his permissions were revoked, and he was unable to take the redevelopment of the site any further.  

Advertisement

The VERY unusual property law that allowed a developer to snag a $1.7million home for FREE

Most watched News videos

Comments 0

Share what you think

No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.

Add your comment

What's This?

By posting your comment you agree to our house rules.