Understanding Different Property Interests in British Columbia
When buying or selling real estate in North and West Vancouver, it's essential to understand the different types of property ownership that may affect your rights, responsibilities, and the way your property can be used or sold. Below, we answer common questions to help you navigate the various property interests you may encounter in the BC real estate market.
What does it mean to own property “freehold” in British Columbia?
Freehold ownership, also known as fee simple, is the most common type of property ownership in BC. When you own a property freehold, you own both the land and any buildings on it outright, subject only to any government restrictions and legal encumbrances (like easements or covenants) registered on the title.
This type of ownership gives you the broadest control over the property—but your use of the land may still be restricted by zoning, strata bylaws (if applicable), or registered charges.
How can I confirm whether a property is freehold?
A land title search will confirm if the property is held in fee simple. This search lists the registered owner(s) and any charges on title. You can also cross-reference the information with BC Assessment records to ensure consistency between the civic and legal addresses. Your real estate agent will be able to help with this.
What is a strata property, and how is it different from freehold?
A strata property is a form of ownership that combines individual ownership of a unit (e.g., a condo, townhouse, or detached home in a strata subdivision) with shared ownership of common property (like hallways, landscaping, or amenities).
Strata properties are still considered fee simple but include legal obligations to the strata corporation, including rules, bylaws, and financial contributions to maintenance and insurance. Ownership is governed by the Strata Property Act.
What’s the difference between bare land and non-bare land strata properties?
- Bare land strata refers to lots where owners maintain their own buildings and the land they sit on, but share access roads or common spaces. These usually don’t have a shared insurance policy.
- Non-bare land strata (like condos) often involve shared buildings and shared insurance coverage.
It’s important not to rely on appearance alone—a duplex may look like a detached home but still be part of a strata. Always review the strata plan and title documents to understand the exact type of ownership.
Are there bylaws for small strata properties like duplexes or triplexes?
Yes. Even if a small strata hasn’t created its own bylaws, the Standard Bylaws under the Strata Property Act automatically apply. Buyers should be aware that these bylaws may affect how they use or renovate the property.
What should I know about leasehold properties?
Leasehold properties are not owned outright. Instead, the buyer purchases the right to use the property for a defined period—often decades—but the land is still owned by someone else (such as the government, a First Nation, or a private entity).
Key details of a leasehold property include:
- The remaining lease term
- Payment structure (prepaid or monthly)
- Rights to assign or sublease
- Whether the lease is registered, which affects enforceability
Before buying, you and your REALTOR® should review the lease documents.
Are there other types of property interests I should be aware of?
Yes. In addition to fee simple, strata, and leasehold, BC real estate may also involve:
- Cooperatives (ownership via shares in a corporation)
- Timeshares
- Tenancies or licenses
- Properties on Indigenous lands
These types can be more complex and may come with different legal implications.
When buying or selling property in BC, understanding the type of ownership interest is just as important as knowing the location or price. A knowledgeable REALTOR® will guide you through these distinctions and help you make informed decisions about one of your most important investments.