Understand the difference between title in strata or community title. Our senior staff has over 30 years’ experience in property law and we will keep you up to date to ensure you never miss a milestone during the settlement process. We do this via phone calls, emails, and SMS’ so you can choose how you will be contacted to suit your lifestyle.
What is a Strata Title?
What is a Community Title?
Community title is a system that is similar to a Strata title system whereby when you purchase a lot, you own a share in the common property. A community title system refers to two (2) or more lots that share a common area. More often than not community titles are large estates that contain several lots and have some form of gated security.
What are the main differences between a strata or community title?
Lots & Boundaries
- Strata boundaries are defined by the building; and
- Community Title is usually defined by lots.
- strata or community title properties have meetings regularly to talk about the common property.
- They usually have an annual meeting that discusses the year ahead and what the budget will be allocated to so all owners have a say.
- The maintenance contributions for both Strata & Community Title properties are pro-rated based on the value or lot size of the property; and
- Both also have corporations that are responsible for managing the financial and insurance aspects as well as conflicts.
- Strata Insurance is compulsory; and
- Community Title insurance is not compulsory and the Community corporation is only responsible for insuring any common areas or buildings such as service infrastructure.
For more information about strata or community title call us today on 1300 224 828.
We go above and beyond at Hunter Legal & Conveyancing to ensure our fixed fee service includes everything you need to buy and/or sell your property with ease. With over 30 years experience in Conveyancing and with HLC being a 7 day a week service, any questions you may have can be answered immediately. After hours also includes weekends, so if you want to secure your sale and/or purchase quickly you can call our professional Conveyancing team to get your matter underway.
We look forward to assisting you to ensure your property matters are on time and hassle-free.