Freestanding houses generally have a freehold title, also known as Torrens Title, however other titles exist for different property types and come with their own legalities. Many apartments, townhouses and villas are Strata Titled, which is a system for handling the legal ownership of a portion of a building and will incur quarterly strata fees. Less frequently you will come across a Company Titled apartment, a system which effectively means you purchase shares in a building rather than a designated space. Restricted Company Title means that you may not be able to lease out the property.
