TYPES OF OWNERSHIP

Tenure is the word in Canadian law that means the legal rights you have over your house.

The three most common types of tenure in Canada are freehold ownership, condominium ownership and rental.

OWNERSHIP

Ownership means you can sell your house at any time you want.

Detached and semi-detached homes, duplexes and townhouses are usually freehold.

Freehold means that one person(or two, such as joint ownership by spouses) owns the land and the house outright. There is no space co-owned or co-managed with owners of other units.

Freehold owners can do what they want with their property - up to a point. They must obey municipal bylaws, subdivision agreements, building codes and federal and provencial laws, such as those protecting the environment.

Condominium Ownership

Condominium ownership is owership of a unit, usually in a highrise. Condominiums can also be townhouses or lowrises.

Condominium ownership means you own the unit you live in and share ownership rights for the common space of the building. Common space includes areas such as corridors, the grounds around the building, and facilities such as a swimming pool and recreation rooms.

Condominium owners together control the common areas through and owner's association. The associating makes decisions about using and maintaining the common space.

Rental.

Rental gives you the right to live in - but not sell - an apartment or a house.

It is possible to rent any type of housing but most rental units are apartments.

When you rent a home, you are a tenant.

The person or company you rent from is the landlord.

Every province has laws setting out the rights of responsibilities of tenants and landlords.