What is a strata title?

Strata property is a property title or ownership in strata titled buildings i.e. an apartment building, townhouse complex, or an office building where there are multiple owners. Strata title means shared assets or amenities (i.e. shared driveway, gardens, lifts, basement car park, swimming pools, etc.) and gives rise to the creation of an owners corporation.

Strata property or more accurately strata titled property differs from Torrens titled property where you are the sole owner of the building and the land (with the only shared assets property being the neighbouring fence).