Glossary
Glossary of terms and acronyms related to Australian banking, finance and investments.
Strata Title
A strata title is used to designate ownership of a building unit, rather than a full piece of land. It is usually applied to flats, apartments and condominiums. Holders of a strata title own part of the land that the building stands on, as well as the 'air space' occupied by their unit. The title also gives them a freehold ownership, full share of the common property, membership to the body corporate (somewhat like a homeowners' association), and allows them to sell, lease, or transfer the unit at their discretion.
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