Provides legal ownership over a property and also gives you a share in the company set up to look after the common areas of the flats or units where the property is located.
Stratum title pre-dates modern strata title subdivisions.
Under stratum title, the property is subdivided into lots.
Each unit owner is the registered proprietor of their lot and also holds shares in a service company established under the Corporations Act 2001. The service company owns and manages common property.« Back to Glossary Index