Under strata title, which of these does a lot owner typically NOT own on their own?
Correct Answer
B) Sole ownership of common property areas such as hallways
A lot owner owns their lot outright and, together with all the other owners, a share in the common property. No single owner owns a hallway or other common area on their own; common areas are owned collectively and managed by the owners corporation. Walls, floor space and fixtures within the lot boundaries usually belong to the lot.
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