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Daily Archives: January 23, 2018

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Jan
23

Key Difference And Similarities Between Strata Title And Torrens Title!

The region of New South Wales has two different concepts of title holding prevailing in present times. There is Torrens title that is related with compulsory registration of title with a government authority for any type of transfer of immovable property. Given the rising urbanisation in Sydney, property prices are increasing and more people turn towards the city for settlement. To cater with shortage of space problems, Strata title has gained wide importance in the city. Strata title provides liberty to hold any block of land and even the airspace above by an individual. Strata agents in sydney are experts who undertake matters relating to strata holding and management. Here is a brief comparison of strata title and torrens title:

Similarities:

  • Under both situations title is registered with government: The basic essence of torrens title is that any transfer and holding of torrens title is to be registered with a government authority so as to maintain ‘indefeasibility of title’. In strata title too it has to be registered with that authority.

  • Laws relating to land apply to both titles: There are various legal and regulatory compliances enforced by state of Australia that is applicable to both the titles.

  • There are a number of properties that can be held as torrens title or strata title: To illustrate where a plot of land can be individually held as torrens title, it can also be fragmented into multiple pieces to be held by different persons.

Differences:

  • There is no common property in case of torrens title: Strata property management companies have the responsibility to maintain common property in case of strata. There is no instance of common property in torrens title.

  • Torrens title registers horizontal division of property only: There is horizontal division of property. In case of strata title, vertical divisions and ownership of airspace above block owned is possible such as in case of multi level apartments.

  • There are no by laws compulsory on multiple torrens title owners: Same is not the case of strata ownership.