Real Estate

Apartment - Undivided Interest - Any concerns?

  • Last Updated:
  • May 19th, 2017 6:51 pm
[OP]
Newbie
Nov 16, 2015
9 posts
1 upvote

Apartment - Undivided Interest - Any concerns?

We're looking at an apartment that has "Title - Undivided Interest".

Are there pro/cons to buying an apartment with undivided interest ownership as opposed to freehold strata?

Thank you
2 replies
Sr. Member
Jan 15, 2017
593 posts
395 upvotes
I am a little confused.

Freehold is the simplest form of home ownership with the owner of the property owning the building and the land that the building is built upon.

A strata (and I am assuming you are from BC as strata is the term used in BC) is granted sole ownership of a unit or lot within a larger building or development. You cannot have freehold strata and these are 2 different types of ownership.

Undivided Interest is a term used to describe property held by 2 or more people without specifying the interest of each party by percentage or description of a portion of real estate. Most commonly used forms of undivided interest are joint tenants and tenants in common.

You can have an undivided interest in both freehold and strata property. That is, a couple can buy a freehold home and be registered as tenants in common on the property or as joint tenants. The primary difference between tenants in common and joint tenants is the right of survivor with joint tenants.
Deal Addict
Jul 3, 2011
4399 posts
1670 upvotes
Thornhill
It's a condominium, that's how ownership is declared so there's no issue.

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