Common Property and the Lot
A strata scheme is a building, or collection of buildings, where:
- the property that each individual owns is called a ‘lot’ (for example, an apartment, villa or townhouse)
- everyone shares ownership of the ‘common property’, such as external walls, foyers and driveways.
Individuals own each lot, common property is jointly owned by all owners, and the owners corporation is responsible for the strata scheme’s management.
This course covers the topics:
- The lot
- Areas of common property
- Common property memorandum
- The registered strata plan
- Responsibilities of the owners corporation
A certificate is available to print off on satisfactory completion of the course and the quiz.