What will I own outright, and what will I own in common?

In some condominiums (freehold condominiums) you own the entire house and the lot on which it is built, and share ownership in the roadway, sewers, and watermains that serve it, and the surrounding green space. In high-rise condominiums, you own the inside of your unit, and the corporation owns the structure of the building and everything else. You may be given the exclusive use of some areas of the Corporation owned property, such as parking spaces, or you may also own them outright.

Your ownership rights are spelled out in the Condominium Declaration, and you should read a copy before making an offer. We can help explain this document if you need clarification.

The common elements are the essential parts of the building needed for you to use and enjoy the part you own, and comprise anything that belongs to and is used by all the residents together. This includes:

building structure
building systems such as plumbing, heating and air conditioning
roof
elevators
roadways and landscaping
parking garage
swimming pool and or recreation centre, and
lobby.