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Common Area

Discussion in 'Investing Glossary' started by Glossary, 27th Sep, 2006.

  1. Glossary

    Glossary Active Member

    Joined:
    12th Sep, 2006
    Posts:
    25
    Definition:

    Common areas or common property refers to that part of a strata scheme which does not comprise part of an individual strata lot. It includes subsoil, airspace, common garden areas, stairwells, lifts etc as well as the structural cubic space comprising the strata building itself.