Common Property and Lot Property – What is the difference?

Difference between Lot Property and Common PropertyOur friends at Bannermans Lawyers made this really useful infographic which explains the difference between Common Property and Lot Property. Please click the image to the right for a large version of the image.

It is very helpful in understanding which damage or repairs are covered by the building insurance and for which issues you should seek cover through a personal content insurance.

If you have any questions on this, or any other strata related topic, please give us a call and we’ll be happy to help you.