A Not In Common Ownership (NICO) plan contains land that is owned by two or more parties.
Upon registration of a NICO plan the boundaries will change however the ownership does not alter.
A transfer of land must be registered with Land Use Victoria to rectify the new ownership.
Not in Common Ownership (NICO) Plan
Guidance notes from DELWP on what is a NICO Plan
Further explanation from DELWP on NICO plans
