Leasehold land

[b8er]

hey there, Iv been looking around for a new house and have looked at a few places out in lake country and a few have come up as leasehold.
Has or does anybody 'own' a leasehold piece of property out there?
How is the band in regareds to the terms, time frames, etc??
Any places to lean toward or stay away from??
Thanks for any info

[grammafreddy]

You couldn't pay me to own a home on leased land.

[SmileyEyes]

You couldn't pay me to own a home on leased land.

And that is from someone who doesn't live in the Okanagan and is not familiar with the local terms/conditions. Talk to the residents at Turtle Lodges or neighbours in the area you are thinking of. I know people who have purchased on leased land and they don't have any concerns/issues with their decisions.

[grammafreddy]

You couldn't pay me to own a home on leased land.

And that is from someone who doesn't live in the Okanagan and is not familiar with the local terms/conditions. Talk to the residents at Turtle Lodges or neighbours in the area you are thinking of. I know people who have purchased on leased land and they don't have any concerns/issues with their decisions.

LOL - yeah, well ....... up until this past May, I did live in the Okanagan. Do you like to vote in municipal elections? Do you like to have some say in the development of your subdivision/neighbourhood/whatever? Can you do/have that when you live on native leased land?

[SmileyEyes]

LOL...

[grammafreddy]

LOL...

Well, can ya?

[metallica]

[quote="grammafreddy"]....... up until this past May, I did live in the Okanagan.[/quote
Just where did you move to make you happier? Serious question. Back to the Borsht Belt?

[SmileyEyes]

[b8er]

thanks granny, i never asked if you wanted to buy or not, thank you for turning this into just another thread iv read that you have turned negative and towards a topic geared at yourself not the original subject. Who knew the castanet forums was such a great retirement plan.

for future reference we all now know that the old timer does not like leasehold and does not live in the valley anymore,

moving on, I do realize the negative side of a leasehold and understand what it is. What i wasn't familiar with was the 'bands handling of terms, agreements, leases, etc

If anybody with PERSONAL experience with any leasehold land in lake country or dealings with the 'band wouldn't mind chiming in i would really appreciate it.

[grammafreddy]

thanks granny, i never asked if you wanted to buy or not, thank you for turning this into just another thread iv read that you have turned negative and towards a topic geared at yourself not the original subject. Who knew the castanet forums was such a great retirement plan.

for future reference we all now know that the old timer does not like leasehold and does not live in the valley anymore,

moving on, I do realize the negative side of a leasehold and understand what it is. What i wasn't familiar with was the 'bands handling of terms, agreements, leases, etc

If anybody with PERSONAL experience with any leasehold land in lake country or dealings with the 'band wouldn't mind chiming in i would really appreciate it.

Actually, you never asked anybody if they wanted to buy or not. You asked ...

Has or does anybody 'own' a leasehold piece of property out there?

And then you said ...

Any places to lean toward or stay away from??
Thanks for any info

So I gave you info ...

You couldn't pay me to own a home on leased land.

I also gave you this:

Do you like to vote in municipal elections? Do you like to have some say in the development of your subdivision/neighbourhood/whatever? Can you do/have that when you live on native leased land?

But y'know what ... you go ahead and blow half a million on a house on native land if that's your thing but I'll call ya 50 kinds of fool because you don't even own the dirt underneath your house, you can't vote on issues that directly affect you and the people who own the dirt can change their minds in a heartbeat and you won't be able to do a thing about it.

[Bsuds]

But y'know what ... you go ahead and blow half a million on a house on native land if that's your thing but I'll call ya 50 kinds of fool because you don't even own the dirt underneath your house, you can't vote on issues that directly affect you and the people who own the dirt can change their minds in a heartbeat and you won't be able to do a thing about it.

Some people just can't handle the truth.

[b8er]

Actually, you never asked anybody if they wanted to buy or not. You asked ...

Has or does anybody 'own' a leasehold piece of property out there?

yes that is right, thanks for writing that i guess?? re-stating what i wrote earlier really doesn't prove anything.


And then you said ...

Any places to lean toward or stay away from??
Thanks for any info

So I gave you info ...
You couldn't pay me to own a home on leased land.

well, okay, that still doesn't answer my question, obviously my questions is directed at a house or property in lake country seeing as how this is the lake country sub section of the forums. I will have you re-read the questions because again, it doesn't ask would you, or anybody, own a lease hold but it does ask are there any place in Lake country a person may want to look at or stay away from.
also just to clear it up so there shouldn't be any future mistakes, I will not be offering to pay granny or anybody else to own a home on a leasehold piece of land. Nor am i asking if giving a cheque would anybody own one.

I also gave you this:

But y'know what ... you go ahead and blow half a million on a house on native land if that's your thing but I'll call ya 50 kinds of fool because you don't even own the dirt underneath your house, you can't vote on issues that directly affect you and the people who own the dirt can change their minds in a heartbeat and you won't be able to do a thing about it.

again, i am not sure where you got the half a million number, i could not find it in any earlier discussion in this post. Also im not a fan of the name calling, my choice or anybody's choice for the matter is there choice and their choice only. The voting or lack there of is a big negative yes i agree. That piece of info would have actually helped this thread for future readers. Hopefully the muddy mess before the usefull commnet does't stop any future researcher from reading the whole thread. So thank you for that grandpa(grandma?) freddy

Some people just can't handle the truth.

is there a questions of anybody's understanding of the law(s) that take place with a leasehold that i am not aware about? im finding it hard to figure out where this is helpful or usefull in the current discussion.

[zookeeper]

Your Realtor, or the selling agent should be able to provide you with all of those documents (lease agreements, terms, rules, by-laws etc.). Make sure you get the most current up-dated ones. We have owned a home on leased land before (not there) and honestly would never do it again (strata either, ever). Each band has their own policy and while some are regulated (by the tenancy branch), most are not. If your reasoning is because of the cheaper price keep in mind the resale on leased land is not good (time wise or money wise). Many do not want to go through the hassles of rules and regulations and many times the "original" terms are not transferable. While trust (with native land) is a huge deterrent the "bad scenarios" can also happen on non-native leased land. You do not, or ever will "own" the land. Areas that are quickly growing and developing are not a good idea to buy in (we are in the age of $ trumps every rule, including, sadly, sometimes humanity). If you are planning to mortgage this home do talk to your mortgage representative as well to be prepared how your terms could change according to information on the lease. Hope this helps.

[b8er]

thanks for the info, its nice to hear from somebody who has actually been through it all before, hopefully this will help some future people as well

[LANDM]

[quote="zookeeper" While trust (with native land) is a huge deterrent the "bad scenarios" can also happen on non-native leased land. You do not, or ever will "own" the land.[/quote]
This is not true. There are many situations in kelowna where the lots are leased with the option, held by the lessee, to purchase the land from the lessor.
I do agree with your comments on native land.
In lake country, there are examples of better and "not so good" leased land.