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Common property means all the land and buildings outside the boundaries of the lot but contained within the external boundaries of the original parcel as depicted on the strata plan. In larger complexes common property is likely to include the building structures and land surrounding.Contrary to the understanding of many, common property is not owned by the strata company as such, but by all the proprietors together, as tenants-in-common in proportion to their respective unit entitlement. Source: Understanding Strata Titles by John Angus
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