Abbotsford & Mission Real Estate Insider

LEGALLY SPEAKING

Bad Driver On Parking

I found out last week that I still have great parking skills. In both downtown Abbotsford & Downtown Mission, while doing errands and going for lunch, I performed perfect parallel parks. This was an area on my drivers test that I aced when I was 16 years old! With that in mind, our topic for legally speaking this month is ‘parking’ so let us dive right into it.

This issue will be more prevalent in Vancouver where parking is a bigger issue, yet even in the Valley there are some buildings where the developer leased the parking spots and storage units to the Buyers of condominiums. In a recent legal case, the owner of a condo sold their unit but thought they did not include their parking lease; in the sale, these two spots were valued at approximately $60,000.

The courts ruled that the actual lease for the parking places stated only owners of the strata units could assign the parking spots and when the owner sold their condo, they lost their rights. The courts ruled the Seller’s leasehold interest was over and decided it was automatically assigned to the new Buyer, one unhappy Seller.

The lesson here is if you are buying a strata unit, confirm and identify the rights to the parking spaces and storage lockers and review the strata plan. To avoid problems I recommend you get at least 24 months of strata minutes, the rules and regulations, strata plans, a Form B, and the parking and storage rights and rules plus any other available information.

This blog is written and supported by Dave B @: www.HomelifeAbbotsford.ca OR www.HomelifeMission.ca

300 – 3303 Immel St. Abbotsford BC V2X 5Y1

1 – 32540 Logan Ave Mission BC V2V 6G3

O 604 859 3141 or 604 826 2699 F  604 859 5226 or 604 826 2621

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