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Sunday 25 December 2011

Condo: When Lease Ends, U Have To Move Out?

If you purchased a leasehold apartment and the lease came to an end, then, logically your apartment would not be yours anymore and that you would have zero interest in the apartment.
Uner the Strata Property Act, this is not the case. The owner of the property will have to buy your interest (which is not zero) or renew the lease or sell the ownership to you.

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I am a realtor specializing in the residential properties in the Greater Vancouver, British Columbia. I have been awarded with 15 years top achievement Medallion Award by the Greater Vancouver Real Estate Board.