Who owns the strata plan?

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  • 08/11/2019 at 8:03 am #44435 Reply | Quote
    stratus
    Flatchatter

      I always thought a strata plan was owned by each lot owner through the owners corporation. However we have recently received a letter from a company announcing they are acting for the “lawful owner of Strata Plan XXXX” and names an insurance underwriting firm as being the owner of our strata plan!

      Is there some sort of separation of ownership between individual lots and the associated strata plan? Or does the owners corporation somehow temporarily cede ownership of the strata plan to an insurance company each time insurance is taken out?

       

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    Reply To: Reply #44497 in Who owns the strata plan?
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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