The Unit Titles Act is the law governing building developments where multiple owners hold a type of property ownership known as a unit title. Such building developments are typically apartment blocks, townhouses, office blocks and industrial or retail complexes.
Unit owners in a unit title development own a defined part of the building, such as an apartment, and may have shared ownership in common areas such as lifts, lobbies or driveways.
Collectively, all the unit owners in a building development make up a body corporate. The body corporate has responsibility for a range of management, financial and administrative matters relating to the common property and to the building as a whole.
As copied from the Department of Building and Housing