Ins and Outs of Condo Parking - Ubertor
Ins and Outs of Condo Parking Out of all the claims we see over condominiums, disputes over parking are easily one of the most common. The frustrating thing is, lawsuits over parking are easy to avoid. Digging a little deeper, getting proof of what you are told, and making sure you lay eyes on what's promised can make all the difference. These brief summaries of recent cases show why.
The listing said there were two titled underground parking spots. In reality, there was one titled underground spot and one untitled surface spot.
The listing said there were two assigned underground stalls. The purchase contract included them and the deal closed. Sometime later when the fire inspector came through the building, he ordered the car be removed from one of the stalls. It was parked in front of the firefighting equipment secured to the wall. It never was a parking stall.
The twelve-unit building was developed with only eight parking stalls. They were assigned once a year by lottery. This crucial information was not conveyed to the buyer who subsequently lost her parking stall in the next lottery.
The listing said there was one leased parking stall. It failed to mention that the stall was located in a parkade across and down the street a block or two.
The listing and purchase contract acknowledged two parking stalls. One was titled and one was not. When the sellers had purchased twenty years previously, they had paid the developers an extra $5,000 for the assignment of the second one. However, a subsequent condo board ruled that these stalls could not be transferred when selling their unit. This crucial information was not conveyed to the buyers.
This is just a small sampling of the cases we see at REIX on a regular basis. When you list a condo, there are a number of important questions regarding parking. Most members simply ask, "Is there parking?" Unfortunately, a “yes” answer might not mean what you think it does. We recommend the following steps when listing a condo that includes parking: 1. Ask to see the tax assessment if they say it is titled. Get the legal and pull title. 2. Check the parking stalls against the condominium plan. Are they legal? Do they show a separate legal description? 3. Ask to see the parking stall. Where is it? Underground and heated, or outdoors and surface? Is there a plug-in? 4. If the parking stall is assigned, ask the sellers to obtain, in writing, a confirmation from the condo board that the seller can transfer the assignment to the eventual buyer. Page 1 of 2
Here on the prairies, we love our vehicles, and we like to know they have a nice place to sleep at night. Prevent lawsuits over the matter by doing your homework and getting proof on what you are told.
Harvey Gamble Executive Director Real Estate Insurance Exchange
Page 2 of 2
The listing said there were two titled underground parking spots. In reality, there was one titled underground spot and one untitled surface spot.
The listing said there were two assigned underground stalls. The purchase contract included them and the deal closed. Sometime later when the fire inspector came through the building, he ordered the car be removed from one of the stalls. It was parked in front of the firefighting equipment secured to the wall. It never was a parking stall.
The twelve-unit building was developed with only eight parking stalls. They were assigned once a year by lottery. This crucial information was not conveyed to the buyer who subsequently lost her parking stall in the next lottery.
The listing said there was one leased parking stall. It failed to mention that the stall was located in a parkade across and down the street a block or two.
The listing and purchase contract acknowledged two parking stalls. One was titled and one was not. When the sellers had purchased twenty years previously, they had paid the developers an extra $5,000 for the assignment of the second one. However, a subsequent condo board ruled that these stalls could not be transferred when selling their unit. This crucial information was not conveyed to the buyers.
This is just a small sampling of the cases we see at REIX on a regular basis. When you list a condo, there are a number of important questions regarding parking. Most members simply ask, "Is there parking?" Unfortunately, a “yes” answer might not mean what you think it does. We recommend the following steps when listing a condo that includes parking: 1. Ask to see the tax assessment if they say it is titled. Get the legal and pull title. 2. Check the parking stalls against the condominium plan. Are they legal? Do they show a separate legal description? 3. Ask to see the parking stall. Where is it? Underground and heated, or outdoors and surface? Is there a plug-in? 4. If the parking stall is assigned, ask the sellers to obtain, in writing, a confirmation from the condo board that the seller can transfer the assignment to the eventual buyer. Page 1 of 2
Here on the prairies, we love our vehicles, and we like to know they have a nice place to sleep at night. Prevent lawsuits over the matter by doing your homework and getting proof on what you are told.
Harvey Gamble Executive Director Real Estate Insurance Exchange
Page 2 of 2
