Under strata title ownership, what does an owner actually own?
Correct Answer
D) Their lot, plus a share in the common property held as tenants in common.
In strata title, owners have full ownership of their individual lot and hold an undivided share in the common property as tenants in common with other lot owners. This shared ownership of common property is automatic and cannot be separately sold.
Why This Is the Correct Answer
A strata owner holds their lot under its own title, plus a share in the common property held with the other owners as tenants in common, usually in proportion to unit entitlement. The share passes automatically with the lot and cannot be sold separately.
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Previous Question
Under strata title, which of these does a lot owner typically NOT own on their own?
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A person forges the owner's signature on a transfer and becomes the registered proprietor. Under the Torrens statutes, which exception to indefeasibility lets the true owner recover the land from that person?