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Condominium Buyers
Parking & Lockers
Ownership & Use
Your agreement of purchase and sale should specify whether any parking spaces or lockers are included in the purchase price. However, there is a difference between whether ownership or exclusive use is included. In some condominiums, parking units and lockers are separate units and thus condo unit owners may own them. In other cases, parking spaces and lockers are part of the common elements, and unit owners only have the exclusive right to use specified spots. In either case, there will be rules and restrictions on how you can use your spaces and lockers whether you own them or not.
Transferability
If you do not own your parking spaces or locker, you usually cannot transfer the right to use them to someone else. Even if you do own your parking spaces and locker, there may be restrictions on your right to transfer title of them to another person. For example, you typically cannot transfer title to your parking or locker to someone who is not a condo unit owner. In addition, you may not be entitled to transfer title if your condo unit would be left without a parking or locker unit. The restrictions on transfer will be spelled out in your condo’s declaration, by-laws and rules. You should be familiar with them before you attempt to transfer a parking space or locker to someone else.