Strata Title FAQ - If I buy a strata title unit, what will I actually own?

Date: March 03, 2011

Q. I'm thinking of buying a strata title unit but am unsure of what I'll end up owning. I'm mystified by the legalities of property ownership. What will I own?

A. With strata title units, generally speaking you own the airspace bounded by the walls, floors and ceilings together with the surfaces of those walls, floors and ceilings. You don't usually own structural walls though you may do so in the case of internal walls. You also own a share of the common property as a part owner, though your share is obviously not severable, that is, it is not a distinct and separately identifiable part of the common property land.