Splitting Title for a Duplex in Calgary?

[bizaro86]

Hello,



A friend of mine owns a side by side duplex in a good area of Calgary, and was considering selling it, and asked for advice. Based on comps form a Realtor, it seems like it would be worth more split into two separately titled units than it is as a whole duplex.



Has anyone done this, or have any information on what is required to do so? I'd also appreciate any links or documents, I've been having trouble finding things on the city's website since they reorganized it.



Regards,



Michael

 

[Thomas Beyer]

First ask city planning department if the neighborhood allows it, as city has to approve it.



Then you have to create two physical plans to show location of half-duplex per side. An engineering firm can do that for around $3000 to $4000. Then you have to create a party-wall agreement, to layout how the parties cooperate on shared items, i.e. who does the roof, who can drill into the wall, etc. Find a lawyer that has templates for that.



Firecode, parking and building code has to be up to current standards, so some (significant) spending may be required, or not, depending on age of property.



Then submit this plan to city for formal approval, which gets forwarded to city council for a vote. This may take a few months, but may be very lucrative as 2 half-duplexes are usually worth far more than one full duplex on one title.

 

[MarkTorgerson]

You must first get city approval. You then get an engineering company to draft the plans. The process is a little time consuming but pretty basic providing the city approves. It cost me around $5,000 to split but I received a lift of $50,000 on overall value. Well worth the effort.

 

[t3ch]

Hello,



A friend of mine owns a side by side duplex in a good area of Calgary, and was considering selling it, and asked for advice. Based on comps form a Realtor, it seems like it would be worth more split into two separately titled units than it is as a whole duplex.



Has anyone done this, or have any information on what is required to do so? I'd also appreciate any links or documents, I've been having trouble finding things on the city's website since they reorganized it.



Regards,



Michael

I know it's an old thread but did you end up splitting the title? I'm going through this right now as well and would like some insight

 

[Tina Myrvang]

I know it's an old thread but did you end up splitting the title? I'm going through this right now as well and would like some insight

Make a new post buddy!!!! Give us the details.