Freehold strata plan

Upon registration of a freehold strata plan under the Strata Schemes Development Act 2015 the following actions occur:

• The prior title is cancelled.
• The plan and administration sheets are processed to be placed on public record, including the affixing of the Registrar General's Seal and the date.
• The owners corporation comes into existence.
• All common property vests in the owners corporation and a folio of the Register issues for the common property, see section 24 Strata Schemes Development Act 2015.
• A folio of the Register issues for each lot in the plan which will issue in the name of the registered proprietor of the prior title.
• The initial period commences.

Leasehold strata plan

Upon registration of a strata plan under the Strata Schemes Development Act 2015 the following actions occur:

• A notification is entered on the prior title referring to the strata plan and associated leases.
• The leases for the common property and each lot are registered and placed on public record.
• Any existing lease(s) on the freehold title which have been replaced by a new lease are automatically extinguished and removed from the title.
• The plan and administration sheets are processed to be placed on public record, including the affixing of the Registrar General's Seal and the date.
• The owners corporation comes into existence.
• All common property vests in the owners corporation as lessee and a folio of the Register issues for the common property.
• A folio of the Register issues for the leasehold estate of each lot in the plan which will issue in the name of the lessee(s).
• The initial period commences.