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Strata Title Property Rights : Private Governance of Multi-owned Properties (Hardcover) (Cathy Sherry)
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Multi-owned properties make up an ever-increasing proportion of commercial, tourist and residential development, in both urban and rural landscapes around the world. This book critically analyses the legal, social and economic complexities of strata or community title schemes. At a time when countries such as Australia and the US turn ever larger areas into strata or community title schemes, this book shows how governments, the judiciary and citizens need to better understand the ramifications of this widespread, private legislative power.
Whilst most strata title analysis has been low level, focusing on specific sections of legislation, this book provides high level analysis, discussing the wider economic, social and political implications of Australia’s strata and community title law. In particular, the book argues that private by-laws, however desirable to initial parties, are often economically inefficient and socially regressive when enforced against an ever-changing group of owners. The book will be of particular interest to scholars and legal practitioners of property law in Australia, but as the Australian model has formed the basis for strata and community title legislation in many countries, the book draws out lessons and analysis that will be of use to those studying strata and community title law across the world.