strata title

Strata title is a form of ownership devised for multi-level apartment blocks, which have apartments at different levels or "strata".Strata title was first introduced in 1961 in the state of  New South Wales, Australia to better cope with apartment blocks. Previously, the only adequate method of dividing ownership was company title, which suffered from a number of defects such as the difficulty of instituting mortgages.This term also applies to house type strata title units in Australia.
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