Anatomy of Strata Developments

Combining the advantages of apartment occupancy to those of home ownership has long been a dream of urban population , but direct ownership "condos" is not easy to achieve. Historically, the law allowed landowners to divide their land into two or more separate parcels. owner of any part of the country is also owned the building (s) on it. But what if the building owner wanted to share a few of the building, each owned by separate owners? Although the owners could divide the country, the law is not easily allow them to share a building owned by separate parts. In Roman law it was forbidden and the common law, although it was allowed, it is generally viewed as dangerously cumbersome in the absence of express statutory authorization.

Before the introduction of an alternative form of condominium ownership flats known as' Commonhold dwellings in England and Real Estate Stock cooperatives in the United States were introduced. Nowadays, laws facilitating such "condominium" ownership in force in civil and common law countries. "Strata title" is a form of ownership devised for multi-level residential buildings, with apartments on different levels or "layers. " Strata title was first introduced in New South Wales, Australia to better cope with residential buildings . Before that, the only satisfactory way of dealing with the ownership of the title, who suffered from a number of disadvantages, such as the difficulty of establishing a mortgage.

strata development consists of strata lots, common property and common assets. piece of property that is owned individually technically called 'strata lot', although we normally refer to it with different terms such as 'independent', 'Condo'ili' strata units. Each strata owner owns a proportionate share of common property and common assets of the strata corporation. The owner can not separate their interest in a lot of layers of proportionate interest in the common property and common assets, with a few exceptions. In practicality this means that a lot of layers owner can not sell only proportionate interest in the common property and common assets while maintaining interest in the strata lot.

owner of the property there are fewer layers of autonomy from someone who owns a non-layers of interest in real estate. This is so because the individual layers of the property is still subject to wider community interests layers of development. strata corporation is based on a democratic structure, with laws that reflect the layers of community values​​. These by-laws govern how owners and tenants can use lots of layers, common property and common assets. combination of all strata lot owners are layers of corporations. Each owner has one vote per unit layers and layers of voters elected council to conduct day-to-day work of strata corporations.

the most important decisions that affect the strata owners or their strata lot must be made ​​by voters in the assembly. same legal principles that apply to the 450-unit residential condominium development relating to the 50-unit industrial complexes and 20-pack warehouse bare soil layers or, for that matter, two units of duplex layers. strata scheme is self-implementing, in that there is no government body that regulates, in accordance with the regulations of the layers and there are 'layers of the police'. To enforce the provisions of laws, each owner has the right to apply to the Court for an order requiring the strata corporation in accordance with the legislation. In addition, certain disputes among the owners or strata corporations can verdict.

layers of development is not the same as a cooperative housing project. Apart from the fact that the law governing strata corporation is different than the law governing cooperatives, housing cooperatives in the corporation was created to purchase or lease of land for housing development. The corporation is called 'association'. The Association owns land or buildings, or in some cases leases of property from leasehold landlord. individual becomes a member of the cooperative by purchasing shares in it.

The most significant difference between the two types of ownerships is that the layers of the development owner buys shares in lots of layers, and thus owns the property. Instead of the housing cooperative member only has a share in the association. He has no interest in real estate. Finally, it is possible for condominiums to consist of single family dwellings: so-called "detached housing, " where homeowners do not maintain the exterior of dwellings, yards, etc. or "site of the apartments, where the owner has more control over the external appearance. These structures are preferred by some planned neighborhoods and gated communities.