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What is an owners corporation?

The owners corporation (formerly known as the body corporate) is a legal entity that owns the building, land and common areas of the strata property. It is composed of the group of lot owners who have each purchased a section (called a lot) of the overall strata property.

When you purchase a strata property you automatically become a member of the owners corporation. This is a legal body that has to follow the rules and regulations of the Strata Act, as well as creating and enforcing bylaws that are specific to your strata plan.

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