When buying a property in South Australia, you will need to take into consideration the type of title the property is – a title being a right of ownership of land.
The three most common titles are Torrens, Strata and Community Titles, and they will each impact differently on your ownership of a property.
The Torrens Title system was developed in South Australia and involves having a single certificate of title for an allotment of land. It is the most common type of title in South Australia, and simply means that (in most cases) the registered proprietor owns the land and any buildings on it.
The Strata Title system refers to multiple owners of properties on one piece of land, where all owners are responsible for the ‘common areas’, which could be a shared car parking space. Strata Titled properties are often managed by a Strata Corporation, and as an owner of a Strata property, you should be aware of the associated limitations and obligations. Namely, you will not be able to change the exterior appearance of your property without permission, and you will have to pay administrative and sinking fund levies owed to the Corporation.
Community Titles have since replaced Strata Titles for new divisions, although Strata Titles still exist. Community Corporation Managers act in a very similar capacity to their Strata Corporation counterparts. Although they are much alike, the key difference between Strata and Community Titles is that where Community Titles are defined by boundaries of land, Strata Titles are defined by the boundaries of a property itself.
If you would like to know more about land titles in South Australia, a Scammell & Co Certified Practicing Conveyancer can clarify the rights and obligations that come with the ownership of your new property.
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