Strata titles are a sub-type of fee simple property grant where there is both the strata property belonging to the owner and the common property that is shared with the other owners of the strata corporation.
While some basic aspects of the strata lots can be verified with a title and BC Assessment search, the strata plan should also be obtained from the Land Title Office to verify the strata lot is in three-dimensional space, and a Form B Information Certificate package should be obtained from the strata property manager (bylaws, budget, rules, and depreciation report).
Note: Whether a property is a bare land strata, non-bare land strata, or fee simple (non-stratified) property cannot be assessed by simply touring the property. Only through careful review of the land title and subdivision or strata plan will the nature of this interest be clear. Bare land strata designations are generally indicated in the title of the registered strata plan.
Lots of complexities exist, for example, in smaller strata properties (i.e., duplex and fourplex units), it is incorrect to think that there are “no bylaws,” as the Standard Bylaws under the Strata Property Act apply even if the strata has not developed its own set of bylaws.
Note: This is only a general introduction to the complexity of strata properties.
Source: BCREA
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