Strata title is a familiar concept for most residential property
owners. However, prior to the introduction of the first strata
title legislation in New South Wales in 1961, company title was the
principal form of residential apartment ownership in apartment
buildings.
WHAT EXACTLY IS COMPANY TITLE?
Under company title arrangements, a company owns the building.
The ownership of particular shares in the company entitles a
shareholder to exclusive use and occupation of a particular
apartment within the building and use of common areas. Regular
levies are usually payable by shareholders and the rights and
responsibilities of owners are set out in the constitution of the
company that owns the building.
