Meaning of strata title/unit title
Strata Title/Unit Title
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Real estate terms
Glossary of real estate terms
Meaning and definition of strata title/unit title :
Most commonly used for flats and units, this title gives you ownership of a small piece of a larger property including "air space". You have sole right to a particular unit and can lease, sell or dispose of your unit as you desire. You also have an undivided share of the common land and become a member of the Body Corporate which controls maintenance and has stipulated rules governing occupation.
For the term strata title/unit title may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be used for medical and legal or special purposes.
Source : http://rwwellingtoncity.co.nz/Resources/rwwellingtoncity/PDFs/Glossary_of_real_estate_terms.docx
Web site link of source to visit : http://rwwellingtoncity.co.nz/7172/Glossary-of-Terms
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Glossary of real estate terms
Strata Title/Unit Title
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