A title to a unit or lot on a plan of subdivision associated with townhouses, units and blocks of flats. Owners have a certificate of title, are absolute owners of a freehold flat and have an undivided share of the common property. Unconditional contract: A contract that has no conditions and must, therefore, be proceeded with.
Title to a flat, unit or lot of land that has been subdivided into two or more lots with common property being jointly owned by the unit holders via a body corporate. each unit constitutes a separate title (See also Body Corporate).
This title provides a person with ownership of a unit in a unit complex which can be sold, leased or transferred.
Is a form of Torrens Title which relates to properties which form part of a Strata Plan. Properties included under this title are usually units, villas and townhouses.
Usually on a group of dwellings such as units and run by a body corporate, you purchase a Title deed.
Common type of title for unit or apartment developments. Confers ownership of a section or a unit of a building and can be sold by the owner.
a document showing ownership of a portion of an allotment and a share in common parts of the building
a means of dividing up a property title to allow for multiple ownership
A title which gives an individual full ownership of a unit on a property.
Most commonly used for flats and units, this title gives you the ownership of a small piece of a larger property. You have sole right to a particular unit and can lease, sell or legally dispose of your unit as you desire. You also have an undivided share of the common land. You also become a member of the Body Corporate which controls maintenance.
Similar to Freehold title but usually over units. With a Strata Title only a particular unit is owned.
Strata title has enabled the subdivision of land and buildings into lots and common property. The "lots" are the units or other areas owned by owners. Apart from the unit there can be areas like laundries, car spaces, garages, marinas which form part of the lot. The common property is everything that does not form part of a lot and is owned by the owners corporation (all the owners collectively).
Title that is commonly used for units, which forms part of the owners corporation.
Title that grants ownership of a section or a â€˜unitâ€(tm) of a larger building.
A title of ownership in a unit of a larger building, which can be bought and sold.
Another popular form of property title. A strata title is different from a green title because it covers land that is shared by owners of adjoining strata titles. This shared land is known as common property. Strata titles are often used in developments of home units and townhouses, which require a facility to incorporate a common driveway in the development.
A form of title commonly used for flats giving you membership of the Body Corporate and ownership of a defined part of the whole property.
title to land which is necessarily divided horizontally, such as in high-rise buildings or for mining rights.
The subdivision of the airspace above the surface of the land, and the issue of a Certificate of Title to part of a building.
Under a strata plan a building such as a town house or block of units and its associated land is divided into lots, each of which has a strata title, and common property which is the part of the land and building in the strata plan which does not form part of any lot.
A strata title is the most common title associated with town houses and home units and is evidence of ownership of a unit, which is called a 'lot', in a strata plan. Individuals each own a small portion (such as a unit or townhouse) but where there is common property (external walls, windows, roof, driveways, foyers, fences, lawns and gardens) which all owners share.
A title to a unit or lot on a plan of subdivision associated with townhouses, units and blocks of flats and based on the horizontal and vertical subdivision of air space. Owners have a certificate of title, are absolute owners of a freehold flat and have an undivided share of the common property.
Freehold title to a horizontal title above and/or below. Satisfactory arrangements for management usually involve a statutory obligation for the setting up of a management corporation with responsibility for the maintenance of common facilities and areas.
A separate title issued for each unit within a high rise building.
Individual owners of an apartment in a block containing a number of apartments hold a Strata Title covering their portion.
A title of a unit, apartment or conjoined housing belonging to a strata scheme. The title gives ownership of property to the owner and undivided share of common property.
A strata title is a particular form of land ownership in which both individually owned and jointly owned property within the same development are possible. The legislation provides the legal vehicle whereby, for example, the individual suites in a high-rise condominium can be owned by separate persons, while the common property such as the hallways, elevators and lawns can be jointly owned by all the owners of the suites.
A title for a unit or apartment
this title gives you ownership of a unit of a larger building, which you may sell, lease or transfer at your discretion. Also entitles you to membership of the body corporate
A form of title commonly used for units (i.e. apartments, flats). Strata title relates to the subdivision of land where parts of the land and building are divided into lots. It gives you membership of the Owners' Corporation, and the ownership of a defined part of the whole building. Strata titles are registered under the Torrens Title system.
This type of title gives you ownership of a unit, which you can lease or sell at your own discretion. Membership of the Body Corporate is automatic with this type of real property.
Similar to Torrens Title, but usually over units. With Torrens title, the land is owned plus everything thereon. With Strata Title, only a particular unit is owned.
A system of title similar to a Torrens Title, but allows the owner of an individual unit, in a block of units, to have separate title for that unit. Will usually have a sink fund associated with the block to cover possible repairs and expenses.
Individual ownership of an apartment or unit within a block or multi-unit complex, which is separate to the joint ownership of common areas shared by all the property owners in the building or complex.
Right of title or ownership of a section or "unit" of a larger building.
The subdivision of land and buildings into individual strata lots which can be sold separately.
A title to a unit under a strata scheme.
a title to a unit in a subdivision which gives you ownership of a freehold unit and a share of common property
Strata Title is a form of ownership devised for multi-level apartment blocks, which have apartments at different levels or "strata".