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Do you live in a building with an Air Space Parcel?

Blog by Diane Cardoso | April 26th, 2014

If you are considering purchasing a new condo in a "multifunctional" building, such as one with: commercial units on the bottom, hotel units in the middle and residential strata homes on the top, then you may want to double check the Disclosure Statement and Title for an "Air Space Parcel" Agreement.  This could have a large impact on the residential strata lots in terms of shared costs and common property. If you see Air Space Parcel or Air Space Plan in the Disclosure, you may want to seek legal advise before purchasing.