Strata Management Licensing Practice Exam · Question
What is the key difference between 'common property' and 'limited common property' in a strata corporation?
Common property is for the use and benefit of all strata lot owners. Limited common property, while still owned by the strata corporation, is designated for the
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Question: What is the key difference between 'common property' and 'limited common property' in a strata corporation?
Answer options:
- Common property is accessible to all owners, while limited common property is for exclusive use by the strata council. ✅ Common property is used by all owners, while limited common property is designated for the exclusive use of one or more strata lots, but not all.
- Common property is owned by the developer, while limited common property is owned by the strata corporation.
- Common property is external, and limited common property is internal to strata lots.
Correct answer: Common property is used by all owners, while limited common property is designated for the exclusive use of one or more strata lots, but not all.
Explanation: Common property is for the use and benefit of all strata lot owners. Limited common property, while still owned by the strata corporation, is designated for the exclusive use of one or more specific strata lots (e.g., balconies, patios). This distinction is outlined in provincial strata legislation.
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