A property developer wants to create a residential complex with individual ownership of apartments and shared ownership of common areas. Which type of title would be most appropriate?
Correct Answer
C) Strata title
Strata title is specifically designed for multi-unit developments where individuals own their lot (apartment) while sharing ownership of common property. This system provides clear legal framework for individual ownership within a shared building structure.
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A property developer wants to create a residential complex with individual ownership of apartments and shared ownership of facilities. Which type of title arrangement would be most appropriate?
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A property developer wants to create a strata scheme for a new apartment building. What document must be registered to establish individual ownership of units?