Updated September 2026. This glossary is general information, not legal, planning, tax or financial advice. Verify the current definition and rule with the relevant authority.
Property and strata terms
- Strata title
- Ownership of an individual lot together with a share in common property, subject to the registered strata plan and by-laws.
- Common property
- Areas not comprised in an individual lot and managed collectively through the management corporation.
- Share value
- A value used for matters such as contribution and voting under the applicable strata framework. It is not the market value of the unit.
- Exclusive use
- A right to use an area may arise from title, by-law or another instrument. It should never be assumed from physical access alone.
- Gross floor area
- A planning measurement determined under prevailing URA definitions and exclusions.
- Strata area
- The registered lot area, which can include spaces that do not have the same utility as internal liveable floor area.
- Encumbrance
- A registered or legal interest that may affect the property, such as a mortgage, charge, easement or restriction.
- Easement
- A right benefiting or burdening land, commonly involving access, services or drainage.
Read the title, strata plan, by-laws and approved plans for the exact property. Obtain legal and professional advice where a definition affects a transaction or proposed use.