Strata Subdivision
A strata subdivision in New South Wales is a type of land subdivision where a building or group of buildings is divided into individual lots or units that can be sold or leased separately. This type of subdivision is commonly used for multi-unit residential buildings such as apartments or townhouses, as well as commercial or industrial buildings.
In a strata subdivision, each lot or unit is given a separate title and can be bought, sold, or leased independently of the other lots or units in the building. The common areas of the building, such as hallways, stairwells, and elevators, are owned and maintained jointly by the owners of the individual lots or units. Owners also share responsibility for the maintenance of the building's exterior and any shared amenities such as swimming pools, gardens, or parking areas.
The process of creating a strata subdivision in NSW involves obtaining approval from the local council and other relevant authorities, as well as preparing and registering legal documents such as a strata plan and by-laws. A registered surveyor is typically required to prepare the strata plan, which shows the boundaries and dimensions of each lot or unit, as well as the common areas and any shared facilities.
Once the strata subdivision is complete, each lot or unit owner becomes a member of the owners corporation, which is responsible for the management and maintenance of the common areas and facilities. The owners corporation is also responsible for enforcing the by-laws and resolving any disputes between owners.