The purpose of this Act is to provide a legal framework for the ownership and management of land and associated buildings and facilities on a socially and economically sustainable basis by communities of individual owners and, in particular,—
(a) to allow for the subdivision of land and buildings into unit title developments comprising units that are owned in stratum estate in freehold or stratum estate in leasehold or licence by unit owners, and common property that is owned by the body corporate on behalf of the unit owners; and
(b) to create bodies corporate, which comprise all unit owners in a development, to operate and manage unit title developments; and
(c) to establish a flexible and responsive regime for the governance of unit title developments; and
(d) to protect the integrity of the development as a whole.