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15 Dartmouth Road Suite 15
Bedford, Nova Scotia
B4A 3X6 902 - 835 - 2000
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Definitions
| Fee Simple |
- highest form of Ownership
- Minimal restraction
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| Free-Standing Condominium |
- registered interest in land
- get an estoppel certificate up front
- be careful of the definitions of unit, common areas, exclusive use of common areas
- be careful of common expenses
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| Land Lease |
- client owns structure and contents
- Land is leased from individual or corporation
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| Life Lease |
- Life Tenant has leasehold interest in the unit and the shared use of common facilities in exchange for a lump sum payment, together with an ongoing obligation for common costs
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Retirement Communities
Return to: Real Estate Planning
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