The important distinction between BC Bare Land Strata lots and Condominium strata lots is that an owners of a BC Bare Land Strata lot owns everything within the lot lines, whereas the interior corridors, exterior walls and balconies of a condominium are deemed as Common Property of the entire strata corporation.
For the purposes of the Elkington Forest Conservation Community, the BC Bare Land Strata allows for:
- Building of narrower, contour hugging roads than would be allowed by the Ministry of Transportation and Infrastructure (MOTI) in a Fee Simple subdivision
- Joint ownership/management of community facilities and amenities, such as viewing platforms, pavilions, structures and community centres
- Designation of the hundreds of acres of forested lands as common property, and a legal framework for creating a shared use trail network between bike riders, horse back riders, and hikers
- Establishing a basic minimum set of rules, such as no motorized vehicles on the strata-owned trail network
- Management of ecological preservation areas and allotment gardens and the on-going landscaping of parks
- Collection of strata fees to pay for the management of all community owned assets
Other land tenure options include the co-op model or corporate ownership of the entire parcel of land, but in both of these options it is difficult to finance the construction and ownership of individual properties. Whereas it is easy to obtain mortgage financing for the ownership of BC Bare Land Strata lots and for the construction of houses and buildings on Strata lots. Every BC Bare Land Strata lot has its own individual land title registration.
For these reasons, the BC Bare Land Strata form of land tenure is best suited to the aims and purposes of the conservation community model. If you have any questions about bare land strata, please do contact us or your realtor.