Unit Title act explained: The apartment buyer’s guide

Buying a unit title property, like an apartment, means you're governed by the Unit Titles Act. You own your unit and a share of common areas, automatically joining the body corporate which manages the building.

Before purchasing, it's crucial to perform due diligence:

- Review body corporate rules, fees, and financial health

- Check meeting minutes for any disputes or building issues

Recent 2022 changes provide greater buyer protection, mandating sellers provide pre-contract and pre-settlement disclosure statements.