Each state and territory has a central registry of all land in the respective state and territory that shows the owner of the land. Title records for each state and territory provide search services.

What is a property title?

It can be better defined as:

>> the right of ownership of the property, or

>> the documents that constitute proof of that property

What are the most common title properties?

The list can help you decide which title applies to any property that interests you and what title you may need:

>> Torrens title (also known as freehold title), and

>> Stratum title

Other title properties that you may find are the leasehold title and the business title.

What is a Torrens / Freehold title?

It is a modern and simplified land ownership system that shows title to the property through a document called a Certificate of Title. This document is registered in a central registry. The original Certificates of Title remain in the registry and the duplicates are in the hands of the following parties:

>> The owner

>> The registered owner, or

>> The mortgagee (the lender / credit provider)

What is a strata title?

It is part of what can be called Stratum Plan Developments and is commonly found in the following buildings because, a Stratum Title allows parts of the building (called “Lots”) to be owned by different owners:

>> for homes / apartments, and

>> for townhouses

What are the most common layer plan developments?

Here is a list of developments that may exist under a Stratum Plan:

>> Residential

>> Commercial

>> Retailer

>> Mixed use (retail and / or commercial and / or residential)

>> Serviced apartments

>> Retreat villages

>> Caravan parks and

>> Resorts

What is common property?

Any part of a building in a Stratum Development Plan that is not part of the Housing Unit / Apartment or Townhouse forms Common Property. Common property may consist of any of the following areas:

>> Roads, driveways, paths, fences and gardens

>> Roof and external common walls

>> Stairs and hallways

>> Meeting room and

>> Recreational facilities (for example, tennis court, golf course, swimming pool, gym, sauna, etc.)

What is the responsibility of the owner of a stratum?

The common properties belong to all the “owners” of the strata in proportion to their property rights. The Common Properties are managed by the Corporate Entity or the Stratum Company, and each owner is responsible for the Common Property and will share the cost of conservation and maintenance of the Common Property areas.

How is a Torrens titled bundle different from a Strata titled bundle?

Here is a list of differences between a Torrens titled bundle and a Strata titled bundle:

Torrens titled lots are:

>> Created under the Land Transfer Act of 1893, and

>> The Land Transfer Law does not allow implicit easements

The titled batches of strata are:

>> Created under the Strata Act 1985

>> The Law on Strata Titles allows sharing access to services and maintenance of said services (water, sewerage and electricity), and

>> These services can go through Common Property and other lots in the Stratum Development Plan

Are there common characteristics between a Torrens title and a strata title?

Yes, there are some common characteristics, such as:

>> A Strata title is as safe as a Torrens title

>> Both can be bought, sold and mortgaged, and

>> Both have permanent tenure

What is a leasehold title?

Curiously:

>> Leasing is the method used on government properties that are located in rural areas (for example, large cattle or wheat properties that are held in long-term or perpetual lease, and

>> At times, state governments may decide to subdivide and release the aforementioned rural properties if the area becomes desirable for residential development.

>> All land is kept under “Lease”, and

>> Some old church properties are also rented as “Leasehold”.

What is a company title?

Little is known about these types of titles among the general public. The little information that is known is that:

>> They originated almost a century ago, but may still be present in some areas, and

>> A company will own the business complex.

What land titles apply to retirement villages?

There are a number of very good retirement villages that offer different types of tenure. However, the most common titles in retirement villages are:

>> Freehold titles and

>> Strata titles

So now that you have read about title ownership, I hope you have a good understanding of the different types of title ownership. However, it is always wise to seek expert legal advice if you still need more information on title ownership and which title applies to the desired residence.