All Topics / Help Needed! / Strata and Stratum I dont understand, please help

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  • Profile photo of lucigooseylucigoosey
    Member
    @lucigoosey
    Join Date: 2009
    Post Count: 42

    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

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    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.
    …….

    Profile photo of lucigooseylucigoosey
    Member
    @lucigoosey
    Join Date: 2009
    Post Count: 42

    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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