Even though now dominant in terms of the number of strata schemes to which it applies, the term owners corporation remains common only to three Australian states and territories and is a comparatively recent addition to the statutory dictionary of those jurisdictions.
However, objection to the term does not arise so much on parochial grounds or its lack of familiarity in its adopted states but rather the inaccuracy of the scope and purpose it conveys. The use of the word corporation in the name given to these bodies suggests some powers and commercial purpose that an owners corporation just does not have and is not meant to have.
While an owners corporation is a corporation sole, to use legal language, meaning it is a separate legal entity like us as individuals and can sue and be sued, an owners corporation is a more limited entity. In truth it is merely a custodian or holding entity for the owners of the common property, the individual unit owners from time to time.