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This is in Gordon Point Estates, a place I had always assumed was a strata development but the listing says 'freehold' which immediately makes it more interesting.
Does anyone have anything to say about this development from experience or observation?
Mls 306337
Started by
Thatcher Smith
, Apr 07 2012 09:26 AM
5 replies to this topic
#2
VicHockeyFan
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Posted 07 April 2012 - 09:40 AM
This is in Gordon Point Estates, a place I had always assumed was a strata development but the listing says 'freehold' which immediately makes it more interesting.
Does anyone have anything to say about this development from experience or observation?
Most strata developments are still freehold (as opposed to leasehold). You still own the property, but also an additional share of some common property.
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#3
MarkoJ
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Posted 07 April 2012 - 09:59 AM
This property has been listed 5 times as a townhome and twice (including current listing) as Freehold. In a previous listings it is described as "detached waterview townhome"
The property disclosure statement that is filled out if for strata titled properties. As Nature/Interest of Ownership "Bare Land" is checked off.
The monthly fee is $472.61.....
Essentially further due diligence is required on this property.
The property disclosure statement that is filled out if for strata titled properties. As Nature/Interest of Ownership "Bare Land" is checked off.
The monthly fee is $472.61.....
Essentially further due diligence is required on this property.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#4
Thatcher Smith
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Posted 07 April 2012 - 10:08 AM
Thanks - I had suspected information along those lines would arise, it is appreciated nevertheless.
#5
D.L.
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Posted 07 April 2012 - 10:31 AM
The listing, if anyone is interested - http://www.realtor.c...dKey=2070174118
#6
Bernard
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- LocationVictoria BC
Posted 10 April 2012 - 09:51 AM
In BC the term we use for owning land is fee simple - this matters because freehold is a different term used in other jurisdiction. In BC it has no legal meaning.
Leasehold is also not a term used as such in BC when it comes to land title law, in BC you register an interest in the land on the title. The terms of the lease would be put onto the title document and would remain their forever even after the lease is done in the same way all mortgages remain on title.
Leasehold is also not a term used as such in BC when it comes to land title law, in BC you register an interest in the land on the title. The terms of the lease would be put onto the title document and would remain their forever even after the lease is done in the same way all mortgages remain on title.
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