Parking and storage are often important components of strata living. It’s therefore essential to have an accurate understanding of the rights associated with any parking and storage when assisting consumers purchasing strata-titled properties.
If you’ve read our previous email titled “Understanding Parking and Storage Designations”, you’ll know the different ways that parking and storage can be designated within a strata corporation.
1. Where to Find Parking and Storage Information
Start by reviewing the Form B - Information Certificate. The strata corporation is required to answer specific questions regarding parking and storage on this form. If the information on the Form B is incomplete, request a new, complete Form B. Strata corporations must provide complete Form Bs and cannot exclude information.
2. Verify the Information Provided on the Form B
It’s important to also verify the information included on the Form B. We’ve come across many Form Bs that provide incorrect information.
To verify the parking and storage information, review the following documents:
The information on the Form B should match what is noted in these documents. If it doesn’t, follow up with the strata and have them clarify why the information noted on the Form B is not the same.
3. Parking and Storage Errors We Often Come Across
Example #1: Common Property Noted as Limited Common Property (LCP)
We’ve reviewed many Form Bs which stated that the parking and/or storage are LCP, but the strata plan showed no LCP parking and/or storage allocated to the strata lot. If you come across this issue, follow up with the strata corporation for clarification.
Example #2: LCP of a Group of Strata Lots
We’ve also come across many Form Bs which note that the parking and/or storage is LCP, but do not specify that it is LCP for a group of strata lots, rather than the specific strata lot. Unfortunately the questions pertaining to parking and storage on the Form B don’t direct strata corporations to address this specific circumstance.
LCP parking and/or storage for a group of strata lots is more akin to common property, where the allocation can be changed or revoked by the strata corporation. Refer to our “Understanding Parking and Storage Designations” email to gain a better understanding of the different types of parking and storage designations.
Example #3: Incomplete Information
Some Form Bs simply direct readers to review the strata corporation’s bylaws without providing the required information on the form. Strata corporations must answer all the questions on the Form B. While bylaws may provide more details on how the strata corporation allocates parking and/or storage, the Form B must state how parking and storage is designated.
To Sum it all Up
As we hope is now clear, verifying parking and storage information is critical when dealing with strata-titled properties. Always cross-reference the Form B with the documents filed with the Land Title Office, and seek clarification from the strata corporation if discrepancies exist.
By doing so, you can ensure your client receive accurate and reliable information, enhancing their understanding and enabling them to make informed decisions about their purchase.
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