What is Common Property on a Strata Plan?
Common property is property which is jointly owned by all of the owners in the strata scheme and is not contained within any individual lot. Many strata owners believe that there is no common property in their scheme, and that they own the whole of “their strata unit” (i.e. the building in which they live) and the surrounding garden and carport area. However, in many cases this is not correct. Due to changes to the Strata Titles Act, and different ways in which Strata Plans have been prepared, a number of individual ownership/ common property scenarios exist. In general terms, common property on Strata Plans is any land not comprised within a lot shown in the plan, and land leased to increase the area of common property. Common property in a Survey-Strata Plan is noted with the letters “CP”. What is Unit Entitlement on a Strata Plan The Strata Titles Act (STA) defines unit entitlement as establishing the following: The voting rights of a proprietor The undivided share of each proprieto
Common property is property which is jointly owned by all of the owners in the strata scheme and is not contained within any individual lot. Many strata owners believe that there is no common property in their scheme, and that they own the whole of “their strata unit” (i.e. the building in which they live) and the surrounding garden and carport area. However, in many cases this is not correct. Due to changes to the Strata Titles Act, and different ways in which Strata Plans have been prepared, a number of individual ownership/ common property scenarios exist. In general terms, common property on Strata Plans is any land not comprised within a lot shown in the plan, and land leased to increase the area of common property. Common property in a Survey-Strata Plan is noted with the letters “CP”.
