Strata plan

All strata schemes are depicted in strata plans. The strata plan is a subdivision of a parcel of Real Property land into separate lots and common property.

Strata plans differ from conventional subdivisions in various ways:

• All lots are defined as a cubic space and must be limited in height and depth.
• Every strata plan must have a building on the parcel.
• The lots are defined on the floor plan by the building or other permanent structures within the parcel.
• Everything within the parcel which does not form part of a lot is common property.
• it is the responsibility of the owners corporation to maintain and repair common property.
• The owners corporation is a body corporate of all of the lot owners in a scheme.
• Each lot in a strata plan is allocated a unit entitlement based upon its value relative to the other lots in the scheme. The unit entitlement represents that lot’s share of the common property.

Generally the building’s common property and parcel of land are jointly owned by all separate title holders.