Hello
I have found a good 1 bedroom apartment in a good location but the section 32 states its a stratum title.
I have been reading that stratum title is not a good thing but I dont understand. I assume I still own the apartment when its on a stratum title.
Can some explain it and let me know the drawbacks. Sorry to be a sap of knowledge but I cant find a simple explanation searching the internet.
Dont know if this helps – Its an apartment block of about 20 apartments, built in 70’s , looking a ground floor 1 bedroom apartment about 45sqm
thank you
in NSW, stratum title permits the developer or owner of the entire stratum to further develop & subdivide within that stratum. Eg a development may comprise a retail/commercial stratum with individually titled suites & parking then a separate stratum with its own strata plan for units all located above/adjacent to the shops.
The only commonality being access for services & possibly some doorways joining the two stratum. There may also be some bylaws which allow access, cleaning of common area etc.
…….Thank you for the response, much appreciated
Still do not get it, but sounds like i should stay away from it
thank you once again
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