Property Week 9

Strata title and the title created in a retirement village scheme are forms of community title.

• true

• false

A lot forms part of a larger parcel of land.

• yes, true

• no way, false

Ownership of the fee simple title is held by:

• body corporate

• residents

Community title is created, established and managed through the:

• Transfer of Land Act

• Owners Corporation Act

• Subdivision Act

Lot entitlements are always equal.

• No way. False

• Absolutely ! True

The dispute resolution is a 3-tiered process. One of the resolution options include

taking the matter to a specialised tribunal.

• Yes

• No

Residents in a retirement village may be granted a right to reside.

• True

• False

Rental agreements never include special terms.

• true

• false

You can include extra terms and conditions that are not in the form, as long as they are not prohibited by the law.

• true

• false

There is a 7-day cooling-off period for a rental agreement, so you should make sure you understand it and accept the conditions before you sign one.

• true

• false