The term Body Corporate is predominantly used in Queensland legislation. In other states the following terms are used for the same purpose: VIC & NSW - Owners Corporation, WA - Strata Company.
Even though the words are different, the principle remains the same; Common property is owned by the owners of the lots included in a scheme, as tenants in common. Common property is the area of the scheme which is not comprised in any lot. The Body Corporate, Owners Corporation, or Strata Company is established on registration of the scheme to manage and administer the Common Property.