BC Strata FAQ
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Our strata corporation has a guest suite that is shown on the strata plan as common property. May the strata corporation borrow a loan by mortgaging the guest suite?
No. The Strata Property Act prohibits a strata corporation from mortgaging common property.
Please Note: Clark Wilson’s Strata Property Group represents a large number of strata corporations and strata managers. Therefore, we are unable to respond to strata-related inquiries from individual owners. If you are a current strata council member or strata manager and would like additional information on this topic, please contact our Strata Property Group.
Related Topics:
Our strata corporation has a caretaker's suite that is a strata lot. May the strata corporation borrow a loan by mortgaging the caretaker's suite?
Disclaimer:
This FAQ section is for informational purposes only, for the
convenience of our visitors. While these questions and answers are
about legal issues, they are not a substitute for consultation with
a lawyer, and should not be relied on as a basis for any legal
decision. As with anything of a legal nature, different circumstances
can create different results.
