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Condo Assignments

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mali | 02 Aug 2013, 09:13 PM Agree 0
An Assignment means that you are buying a ‘right’ to own a condo that is not in the Land Registry System. Usually the condo has not been built or it is not ready for occupancy and the building has not been registered. This ‘right’ is just a paper transaction and not the transfer of the actual property. The closing of the Assignment occurs BEFORE the condo is registered. The individual who buys the ‘right’ will eventually close and register their ownership of the condo at some later date.

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  • katelouise10 | 13 Aug 2013, 07:15 AM Agree 0
    A Realtor who deals with assignment listing services can guide you through the whole process and may refer you to the right lawyer.

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  • josephhinds | 19 Sep 2013, 11:55 AM Agree 0
    You mean condo is built on unregistered lands? :ohmy:
  • griffin | 26 Sep 2013, 10:40 AM Agree 0
    For me, it's really a wiser option to have an investment in Canada especially in NW Calgary real estate. Like many of us, thinking which location would be profitable to start a business or start a life with their family for permanent residing is important. That's why I think Calgary is one of the best places for both as it caters a lot of opportunities for business and a lot of leisure for family.
  • littleflower | 18 Feb 2014, 06:08 AM Agree 0
    I can’t agree with you. To my mind every big city provides people more opportunities. And renting in Toronto, Quebec, Montreal, Vancouver is also a good chance to earn some money for landlords. In every big city the rent is rather high because there is less land but many people. People who are looking for rental properties as they can’t afford purchasing their own apartment or house. Some prefer rental property because of their work. There are many reasons people consider when they make a decision. Anyway, more families are still renting nowadays.
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