Which statement best describes strata ownership in Canada?

• A. Condominium ownership with fee simple; disclosure statement; easier to sell; filed in land title office
• B. A leasehold arrangement
• C. Timeshare arrangement
• D. Cooperative ownership

Answer: (A)

Strata ownership in Canada is the condominium model: you own a specific unit in fee simple and hold an undivided interest in the common property, all under a strata corporation. The official plan showing unit boundaries and the common areas is registered in the land titles office, giving a clear public record of what you own and share. Buyers receive a disclosure statement that outlines important information about the strata corporation—bylaws, finances, reserve funds, and potential assessments—so you know the costs and rules before purchasing. Because the unit is individually titled and the common property is collectively owned and managed, it’s generally easier to buy and sell a strata unit than other forms of ownership. Other arrangements—leaseholds, timeshares, and cooperatives—are different structures and don’t describe the standard strata ownership.