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strata
DCHP-2 (Apr 2013)
1n. — also in compounds, British Columbia, Housing
collective ownership of real estate, e.g. ownership of one unit in a collectively managed building.
Type: 3. Semantic Change — The term strata evolved from the general definition of "layer", since a strata title usually involves multiple owners with claims to horizontal subdivisions of a multi-storey building on one lot. British Columbia's Condominium Act introduced stratas as an alternative real estate option in 1966. Chart 1 indicates that strata council is most common in Canada, with some occurrences in Australia. The term is almost exclusively used in British Columbia (see Chart 2).
COD-2 lists the term as "[attributive] esp. BC & Austral. " (s.v. strata (3)).
COD-2 lists the term as "[attributive] esp. BC & Austral. " (s.v. strata (3)).
Quotations
1966
This is what is to be called "Strata Titles Condominium," strata meaning layers, and condominium meaning ownership in common. This system has been adopted in Australia, and our system of land-holding is based on the Australian Torrens system, and it is also being tried out in a number of the individual states in the U.S.A. A somewhat similar method has been in use in Scotland for 100 years.
1974
It inadvertently seems to have discouraged rental suite construction by stopping builders from the tax shelter practice of using a paper loss from depreciation of apartments to reduce personal income taxes.
However, larger private developers are still largely building strata title suites, the rationale being that since they are sold rather than rented the return is quicker.
1995
Condominium living can provide a comfortable, affordable, low-maintenance home but problems arise when owners don't understand the basic concepts and legal mechanisms of strata title property. An information seminar, What You Should Know About Condominium Living, will clear up any confusion.
2004
A rezoning application for a 48-unit strata apartment building close to Colwood Corners has been postponed until Colwood council's next meeting, in July.
Developer Alan Pratten of Exit Realty Abacus plans to build on three existing single-family lots on Jerome Road, at the back of Colwood Plaza beside a treed stretch of the Galloping Goose Trail.
2010
Most of the new commercial buildings will be completed in the next two years, mainly in areas that have already seen rapid construction, such as Business Bay and Jumeirah Lakes Towers. Most are held by numerous landlords in an arrangement known as strata title, where a building is legally divided horizontally or vertically into separately owned properties.
2n. — also in compounds, British Columbia, Housing
the collective management body governing jointly-owned real estate.
Type: 3. Semantic Change — This meaning is derived from meaning 1 and is expressed either in compound forms , e.g. strata council, strata corporation or in the shortened form strata (see the first 2013 quotation).
Outside British Columbia, condo association or related terms are more widely used than strata council.
Quotations
1987
The size of a condominium project also has something to do with the amenities that will be included. Some small projects have only a meeting room in which to hold strata council meetings while large developments often provide a spectrum of recreational facilities to rival the best health clubs.
2013
We decided to pay the $25,000 for the parking space, as it added a substantial amount to our assets.
The strata council sent us a letter indicating we had to surrender one parking space, as there was a shortage, and as our unit only has one car, we had no right to the additional space.
2013
Kirk Deutschmann lives in a Maple Ridge strata building that needed $706,000 in repairs to its roof and gutters. Rather than give each of the 103 owners a bill in the neighbourhood of $7,000, the strata decided to borrow most of the money and allow the owners to pay it back monthly.
References
- COD-2
Images
Chart 1: Internet Domain Search, 16 Oct. 2012
