I can`t seem to actually find specific information anywhere on the web about this. I can ask a real estate lawyer but before I do, does anyone know if your purchase a dwelling (for primary residential, rental or commercial), do you actually own the land the the dwelling is situated? Please reference any source material where this information is validated.
Do you own the land your property is on?
- Thread starter coolics
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For practical purposes when you buy a house or commercial property you own the land.
However from a strictly legal point of view the Crown owns all the land. I will quote from my text "Mortgage Brokering in Ontario". You probably can not find this in the library however:
"The current owner of a piece of real property actually owns the rights to the land. In Ontario the only owner of the land is the Crown. Initially the Crown provided grants to individuals allowing them to use the land. Every piece of real property in Ontario today that is owned by anyone other then the Crown has an original grant.
The result of this is that individuals own different rights to real property. These rights are determined by the type of ownership, referred to as the Doctrine of Estates. The most common forms of estates in Ontario today are fee simple estates and leasehold estates."
Hope this is the type of answer you were looking for. You do not actually own the land but the right to the land.
However from a strictly legal point of view the Crown owns all the land. I will quote from my text "Mortgage Brokering in Ontario". You probably can not find this in the library however:
"The current owner of a piece of real property actually owns the rights to the land. In Ontario the only owner of the land is the Crown. Initially the Crown provided grants to individuals allowing them to use the land. Every piece of real property in Ontario today that is owned by anyone other then the Crown has an original grant.
The result of this is that individuals own different rights to real property. These rights are determined by the type of ownership, referred to as the Doctrine of Estates. The most common forms of estates in Ontario today are fee simple estates and leasehold estates."
Hope this is the type of answer you were looking for. You do not actually own the land but the right to the land.
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As Ramon says, you own the land through a "fee simple" interest in the land. The Crown has the power of "Eminent Domain", meaning it has the right to revoke your ownership (expropriate) of it, or determine its uses (zoning), to tax you, etc.
That applies in every province in Canada, except Newfoundland, which, as I understand it, every property owner actually leases the land from the Crown on a 99 year lease.
That is not a Newfie joke.
That applies in every province in Canada, except Newfoundland, which, as I understand it, every property owner actually leases the land from the Crown on a 99 year lease.
That is not a Newfie joke.
