Thursday, February 11, 2010 What is the difference between Titled and Assigned Parking?by Ben Officer on Thu, Feb, 11, 2010 08:38 AM
I have recently been asked the question: “Ben, the different condos we’ve been looking at have either titled or assigned parking. What’s the difference?
Titled or Assigned Parking? It’s a big difference.
Titled parking means that you physically own the parking stall. You have the title deed to the parking stall.
And no it doesn’t mean you can build something on it. (They would probably frown on that and it might be a bit of hassle getting a building permit….)
What it does mean is that it has a value to it, it can be bought or sold, that it transfers like normal properties, and goodie…. it has a property tax bill.
Assigned parking generally means you are assigned a parking stall by the condo board/property management company. It is yours to use but not to own.
The type of parking stall and whether it is above ground or underground makes a big difference to a lot of people when they are looking to buy a condo. It also makes a difference on the value given to it.
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If you have any questions or are looking to buy a condominium/ house give me a call now.
Ben Officer, CD REALTOR®
RE/MAX Real Estate (Edmonton) |
| *** The author of this blog, Ben Officer, is a licensed REALTOR® in the province of Alberta. The opinions expressed within this blog are those of the author and are simply that, opinions. The views expressed in this blog are not intended to advise you, as your needs may differ depending on your particular situation. The information provided in this blog is not guaranteed to be accurate and is subject to change at any time. For legal advice/information, please consult a lawyer. For mortgage advice/information, please contact a licensed Mortgage Associate. For tax advice/information, please consult an accountant. For investment advice/information, please contact a financial advisor. *** Blog Disclaimer - The information contained within this blog and posted by the author is believed to be true but cannot be guaranteed to be so. The author of this blog takes absolutely no responsibility for the comments posted by third parties on this blog. |
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