- Strata title owners purchase individual "lots" within a larger common property.
- Community title is primarily used for gated estates and large developments.
- Neighbourhood schemes provide structure for houses with minimal shared property.
- Precinct schemes are used to manage shared amenities as large developments unfold.
Strata Titles have evolved into much more than what once used to be strata dwellings on commonly owned land. Ensuring comprehensive legal advice is received when acquiring strata title property will avoid unexpected findings.
Strata titles can comprise a modest row of townhouses or hundreds of units, sometimes occupying more than one building and configured like a babushka doll. They may contain shared facilities managed by a building management committee under a strata management statement.
Strata titles may also contain community titles, exclusive occupancies and special by-laws applicable only to particular lots. Large developments may contain tiered structures of neighbourhood and precinct schemes within community associations.
Strata Title: The system of property ownership used for units, townhouses and some commercial properties where owners purchase individual “lots” within a larger, common property. Strata titles are usually vertical, such as high rise apartment complexes where private residencies are divided by walls. Common areas such as foyers, lifts and staircases are managed by a body corporate known as the “Owners Corporation”.
Community Title: A system of property ownership primarily used for gated estates, holiday parks and large developments. Similar to Strata, Community Title involves ownership of individual lots within a larger common property. However, Community Title typically involves lots consisting of private land and houses, and of communal spaces including amenities like parks, roads and private recreation facilities. Financial responsibility for communal “association property” is shared by the “Association” under various tiered schemes of management. The primary tier is a “Community Scheme” where, beyond Association property, ownership and maintenance of individual lots operates much like the Torrens system of non-strata homes.
Neighbourhood Scheme: Neighbourhood Schemes provide a subsidiary management structure for houses and townhouses with minimal shared property, usually driveways and landscaping. Neighbourhood Schemes can stand alone, or be used in conjunction with other schemes to subdivide the management of lots within a large development under Community Title. A “Management Statement” is required to set out by-laws for owners, and architectural restrictions can be imposed on buildings within the scheme.
Precinct Scheme: Precinct Schemes are a less common, intermediary tier of management structure for large, ongoing developments under Community Title. Unlike Neighbourhood Schemes, Precinct Schemes cannot exist without a parent Community Scheme. They are useful for breaking down groups of lots into specified precincts to oversee the management of shared amenities as each stage of a large development unfolds.
And that is a babushka doll redefined in strata legal terms.
