Strata Titles Act 1985

A strata titles scheme may be —

a freehold scheme; or

a leasehold scheme.

In a freehold scheme —

there is no separate title for the parcel subdivided by the scheme; and

each lot is a freehold lot; and

the parcel cannot be dealt with (including by registration of a mortgage) or disposed of under the Transfer of Land Act 1893.

In a leasehold scheme —

there is a separate title for the parcel subdivided by the scheme; and

each lot in the scheme is a leasehold lot subject to a strata lease; and

the scheme expires on a specified day (the expiry day for the scheme); and

the expiry day must be a day that is —

at least 20 years (or, if some other period is specified in the regulations, that period) after registration of the scheme; and

not more than 99 years after registration of the scheme;

the expiry day will be specified in the scheme notice; and

within the parameters set out in paragraph (d)(ii), leasehold by‑laws for the scheme may provide for postponement of the expiry day; and

if leasehold by‑laws provide for postponement of the expiry day, the expiry day may be postponed if the postponement is within the parameters set out in paragraph (d)(ii) and is supported by a resolution under section 41; and

the expiry day is postponed when an amendment of the scheme notice is registered giving effect to the postponement; and

the registered proprietor of the parcel (the owner of the leasehold scheme) is entitled to the reversion in the land on the expiry or termination of the scheme; and

the existence of the leasehold scheme and its expiry day must be endorsed on the certificate of title for the parcel; and

the owner of the leasehold scheme is the lessor and the owner of a lot in the scheme is the lessee under the strata lease for the lot; and

the owner of the leasehold scheme may be the owner of a lot in the scheme despite any law relating to the merger of leasehold and reversionary estates in land; and

the owner of the leasehold scheme cannot separately deal with or dispose of the reversion in a lot or the common property of the strata titles scheme; and

the reversion in the parcel can be transferred, disposed of or mortgaged as a whole, and a memorial or property seizure sale order can be made in relation to the reversion of the parcel as a whole under the Transfer of Land Act 1893, but no other dealings can be registered under that Act against the reversion in the parcel.