As Ski Season approaches, Buyers tend to turn their attention to Buying Real Estate in Ski Resorts.
My thanks, this week, go to Peter Borszcz of Pihl Law Corporation, here in Kelowna who has put together a timely reminder of some of the issues you must consider when purchasing or selling a property at a ski resort:
- Unique Titles and Leaseholds – some examples of these include the leasehold strata units of Snow Pines, the Restrictive Covenants on titles preventing competitive ski businesses, or the Easements to allow for use of adjacent ski runs or lifts.
- Use Restrictions – Many buildings have both title and strata restrictions on how and when that building can be used and by whom, these should be fully reviewed and you should not make common real estate assumptions like “I can live in this unit full time” if its part of a resort strata hotel complex.
- Short Term Accommodation Issues – AirBNB and VRBO and other short term accommodation...