Preparation of Form V

Form V outlines the proportional share of common property ownership allocated to each individual strata lot within a strata corporation. Essentially, it defines the unit entitlement for each strata lot, which determines the voting rights, strata fees, and other obligations associated with that particular unit. The unit entitlement is typically calculated based on factors such as the size, location, and amenities of each strata lot relative to the entire strata development. This form ensures transparency and fairness in the allocation of common property ownership and responsibilities among strata lot owners within the strata corporation.