Compare Listings

St Lucia Freehold Townhouses

St Lucia Freehold Townhouses

What is a freehold townhouse?

Freehold townhouses are often discussed alongside condominiums and even colloquially referred to as such but are fundamentally different. Whereas the owner of a condominium only owns the interior of a unit, a freehold owner owns the home itself and the plot of land it sits on. Freehold tenure can apply to any ground-oriented dwelling, including detached single-family homes, semi-detached homes, or townhouses.

Freehold tenure involves the ownership of real property or land and all immovable structures attached to such land. Freehold is distinct from leasehold. It must possess two qualities: immobility and ownership of indeterminate duration. Tenure is not freehold if the time of ownership is fixed and determined.

Freeholds do not come with the management structure of a condominium corporation. Freehold owners are fully responsible for the maintenance of their own property. Owners do not have to pay monthly condominium fees or adhere to a condominium declaration. However, freehold townhouses typically include a Homeowners Association, discussed below.

The Commonwealth Caribbean

Condominium tenure is uncommon in the Caribbean. With the exception of Bahamas and Jamaica, condominium legislation either does not exist, or has not been successfully implemented30. Although condominium acts exist in Barbados, Belize, Guyana and Trinidad and Tobago (Sukra, Krys. Nd. The use of Condominiums in the Commonwealth Caribbean. University of Guyana.

Condominium Act No 23 of 1981), the absence of legal clarity and procedural certainty have resulted in these Acts not being used in practice.page32image19272

Condominium legislation in both the Bahamas (Investment Condominium Act 2014) and Jamaica (Registration (Strata Titles) Act) has been applied largely support of foreign direct investment, with ex-patriates serving as the primary target market.

Related posts

Low-income households In St Lucia

Low-income households in St Lucia are considered to be those families with a combined...

Continue reading

Middle-income households in St Lucia

Middle-income households in St Lucia are those persons with a combined monthly household...

Continue reading

Housing Terms Used in St Lucia Real Estate

Dwelling Unit: A dwelling unit is any building or separate and independent part of a...

Continue reading
%d bloggers like this: