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Strata title is a form of ownership devised for multi-level apartment
blocks. The 'strata' part of the term refers to apartments being on
different levels, or "strata".
The strata title is the ultimate and
conclusive proof of ownership for any stratified property, be it a
condominium, commercial unit in a complex or shop-building, or just a
simple apartment.
For one, without the strata titles, owners
won’t be able to sell their properties with a straightforward Sale and
Purchase Agreement - any transaction and transfer has to be done by way
of an “assignment”. |