The strata plan is a subdivision of a parcel of Real Property land into separate lots and common property. Strata plans differ from conventional subdivisions in various ways:

• Every strata plan must have a building on the parcel.
• The lots are defined on the floor plan by the building or other permanent structures within the parcel.
• Everything within the parcel which does not form part of a lot is common property.
• It is the responsibility of the owners corporation to maintain and repair common property.
• The owners corporation is a body corporate of all of the lot owners in a scheme.
• Each lot in a strata plan is allocated a unit entitlement based upon its value relative to the other lots in the scheme. The unit entitlement represents that lot’s share of the common property.