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This is a new kind of Torrens title
It works like this:
A developer will build 3 levels. Here is an example:-
- Top level, call it level C
- Second level, call it level B
- Ground level, call it level A
Now, level A is for shops and it has one owner only. It is considered a private property.
Level B is divided into units and is for offices. It can be sold to many owners and it is part of the strata complex
Finally, you have level C , that is for residential units. It is sold to many owners and it is part of the strata complex
The main difference is that the Ground level or Level A is considered as a private property and is not part of the strata. No strata levies will apply
Problems and time bomb
The builder/developer can write any law into the strata units for level B and C. Dispute will surely arise, it is a time bomb. If any money needs to raised (there will definitely be), the ground floor is privately owned and not part of the strata will not contribute any money
Our firm position: After having advice from Cathy Sherry associate law professor who is is a leading Australian expert on strata and community title, her advice is to steer clear of this stratum title. We, therefore, do not handle stratum title. If you are buying or selling a stratum title- please find another firm to handle your matter.
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