What is stratum in freehold?

Answer 1

In the context of freehold property ownership, a stratum refers to a specific layer or level within a building or piece of land that is separately owned and managed. Each stratum typically represents a distinct unit or portion of the property, such as individual apartments in a condominium complex. Owners of each stratum have exclusive rights to use and manage their designated area, while also sharing common areas and responsibilities with other owners in the freehold property. Understanding the concept of stratum is crucial for determining ownership rights, responsibilities, and obligations within a freehold property structure.

Answer 2

A stratum in freehold is a type of title that is used when purchasing property in New Zealand. Strata means that you are buying separate units on separate levels. For example if you bought an apartment on the first floor and second floor of a building, you would receive a strata title.