Registered Strata Plans
Posted On July 17, 2023
‘Strata’ is the legal term used in British Columbia for a type of joint ownership of real property, in which parts of the property are owned in common and other parts are owned individually. Colloquially, strata is also known as a condo or apartment unit.
To create a strata development, a developer must first subdivide the land, including buildings, into portions designated for separate properties along with common features. This is done by depositing a document called strata map at the Land Titles Office. The plan must show which parts are strata lots for purchase by individual owners and which parts are common property.
Although the requirements for depositing a strata plan are highly technical, each plan must show, among other things, the following:
[ ] a unique registration number (for example, SP LMS3729);
[ ] the limits of the earth;
[ ] the location of all buildings (except for ‘wasteland’ strata developments);
[ ] a drawing that distinguishes the lots of the strata from each other by numbers or letters in consecutive order;
[ ] the area of each lot strata;
[ ] a schedule of unit rights;
[ ] a list of voting rights, if there is at least one lot of non-residential strata;
[ ] statutes that differ in any respect from the standard statutes contemplated in the Strata Ownership Law.
right of unity It is the figure on which the monthly maintenance fees of the units of the strata are calculated. This generally takes into consideration the size of the stratum unit, as well as the area of limited common property that the stratum unit has use. If the strata council needs to raise $100,000 per year, and the unit entitlement is 18/1000, the assessed monthly maintenance fee would be $1,800 per year, or about $150 per month.
Copies of registered strata plans are available from the Land Title Office of the district where the strata development is located.
It is important to note that a strata development is not the same as a cooperative construction project (coop), in that the legal structure of a housing cooperative is different in some important aspects.
In a housing cooperative, a corporation is created to buy or lease and later develop land for housing. The corporation is called association.The corporation owns the land or building or, in some cases, leases the property from a landlord. An individual becomes a member of the cooperative by purchasing share Association Ownership of a share generally carries the right to occupy a unit in the cooperative housing complex.
From a member’s perspective, the most significant difference between a strata development and a housing cooperative is the nature of the member’s interest in the project. In a strata development, the owner purchases and becomes interested in a strata lot. So, therefore, the owner buys real estate. By contrast, in a housing cooperative the member does not own an interest in the land. Rather, the member owns only a share in the association, not real estate.