What is Strata and Community Title?
As the population of New South Wales increases, residential land for housing particularly in urban areas is becoming scarcer and more expensive. Consequently, in recent years, a title system for multiple occupancies on the one site has been developed. Often known as home units or villas, New South Wales Strata Titles Legislation and regulations provide for the subdivision of a building or buildings to allow for ownership of various parts of it but with common ownership of structures and land called common property. Whilst very frequently residential, Strata Titles can apply to industrial estates, shopping complexes and commercial buildings.
The below questions and answers are a brief summary of the basic operation of a strata scheme. There can be many variations for particular properties. It is not always easy to understand how strata title works. If you are considering purchasing a strata unit, clear advice is recommended to enable you to fully understand your rights and obligations. Turner Freeman have experienced property lawyers who are able to provide you with this advice.