There are many types of land titles in South Australia, but if you’re new to the property market or don’t work in the industry, these titles might mean nothing to you.
What’s the difference between a torrens and a community title? Or a strata and moiety? Our team of expert conveyancers have pulled together everything you need to know about land titles, especially if you’re looking at residential land subdivision.
Read on to find out all you need about the types of land titles in Australia.
- What are the different types of land titles?
- What is a Torrens Title South Australia?
- What is the most common system of land title in Australia?
What are the different types of land titles in South Australia?
1. Torrens Title
The most traditional and common form of ownership in South Australia, a Torrens Title property is one where the purchaser owns both the house/building and the land on which it is built. The owner is responsible for the property’s upkeep – both inside the property and all of the land.
Strata units, townhouses or villas are similar to Community titles, but they were established prior to the Community Titles Act coming into effect. Strata Titles are governed by the Strata Titles Act 1988.
If you are a Strata Title owner, you are solely responsible for maintaining the inside of the property and paying annual fees for common facilities like lifts, garden, swimming pool, stairwells, and shared entrance halls in the property. The standard area maintenance is typically administered through a strata fund or owners corporation and managed by an appointed strata manager.
Community lot boundaries are defined by surveyed land measurements (not the building). The owner of each lot is responsible for maintenance and insurance of any building on their lot.
Governed by the Community Titles Act 1996, as a Community Title owner you are also a member of the Community Corporation for the group of lots. Among other responsibilities, the Community Corporation is tasked with looking after the common property and holding annual meetings of the Community title owners.
4. Community Strata
As the name suggests, it means owning a Strata building on the community parcel (i.e. lots exist above one another, multi-level). The buildings form part of the common property and it becomes the community corporation’s responsibility to maintain and insure them. This type of land title in South Australia is covered by the Community Titles Act 1996.
5. Moiety Title (lease based)
Up until 1967, Moiety Titles were one of the two most-commonly used titles for flats (or units) in South Australia. As the owner of a flat or unit under a Moiety Title, you are registered as the owner of a share of the land the unit block sits upon and you are effectively ‘leasing’ your right to occupy your flat(s) from the other owners, as well as leasing your right to use common areas.
6. Company Title (share based)
A Company Title was the other most commonly used title for flats (or units) in South Australia prior to 1967 and Strata titling. As the owner of a flat or unit under a Company Title, your share certificate registers you as the sole owner of the land your flat sits on, also giving you the right to use common areas.
Understanding the differences in the types of land titles in South Australia and letting you know what that means is our job, we’re here to walk you through all the processes and steps. If you’re looking at buying or selling a property, call Eckermanns – we’re here to answer any questions you may have regarding property titles in South Australia. If you need our assistance, please contact us on 08 8366 7900.