What do I own and what is common property?
What is Lot and Common Property? The important question of who owns what needs to be established, as the answer will dictate how a strata scheme is correctly managed and who is responsible for what parts of a strata scheme. Common property is the responsibility of the owners’ corporation, and Lot property is the responsibility of the lot owner. The picture below is an extract from a typical strata plan. The strata plan does not…