What Is the Difference Between Green Title and Strata Title?

When you’re purchasing a new home, you may come across different types of titles including green and strata.  

What’s the difference?

The main difference between a green title and a strata title is the lots have been created under different Acts of Parliament.

Fun Fact: The term ‘green’ comes from a time where it was standard practice to hand write titles on different coloured paper for easy finding!

Some fundamental differences include:

Green Title

• Ownership is independent – there's no common ownership
• Main services such as water, plumbing and electrical can't be shared  
• No common property  
• Require planning approval

Strata Title

• Main services such as water, plumbing and electrical can be shared
• Common property for access is allowed  
• Require planning approval

Want to learn more about buying a home? Discover more here.

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval; satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000.

Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.

* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.