29th March 2009What is Strata Title?
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".
Strata title was first introduced in 1961 in the state of New South Wales, Australia, to better cope with the legal ownership of apartment blocks. Previously, the only adequate method of dividing ownership was company title, which suffered from a number of defects, such as the difficulty of instituting mortgages.
From what i heard, our strata title might be ready in 5 years time but then again, all this is changeable and therefore, you guys should start to save up money for the transfer fee already because the amount is not small for some people.
Below are information or should i say the law quoted from the Ministry Of Housing and Local Government. I've manage to link to 2 sites which shows this information in 2 different format and they are in pdf as well as html form. Enjoy!!!
Strata Title Act Malaysia ( In PDF )
Strata Title Act Malaysia ( In HTML )
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