Equitable Charges and Rent Charges

Equitable Charges and Rent Charges are charges which indicate that there are payments due from the landowner to the chargeholder. In the Okanagan region often these charges are placed on lands by private utilities at resorts (for example: Big White, Silver Star or Apex Ski Resorts) to secure the payment of utility fees to the resort. In other circumstances there are used to enforce payments to a local homeowners association (for example at Sunset Ranch Golf Course).

Although these charges impose ongoing financial obligations on the landowner, unlike mortgages Equitable Charges and Rent Charges are not (usually) discharged on closing as (similar to strata fees) they represent the security interests of ‘service providers’ to the land. Much like a Buyer would wish to review strata bylaws, these charges MUST to reviewed prior to subject removal, as the additional financial obligations imposed need to be understood by the Buyer.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s