These days it is not as simple as just owning some real estate. The options seem to grow by the day. Consider the following possibilities for Property Ownership in Canada:
1. Joint tenancy
2. Tenancy-in-common
3. Condo ownership
4. Tenant shareholder in a corporation
5. Co-ownership, including fractional ownership
6. Life interest
“Rent to own” a house is a very complicated process and normally takes place outside of organized real estate since there is no down payment therefore no commission until some hypothetical time in the future.
As a full-time Canadian real estate investor, you should be aware (in all of your dealings) of any issues or encumbrances associated with your property of interest. Title Insurance in Canada gives homeowners protection should someone else claim a legal interest in their property.
This ancient remedy was helpful in resolving disputes in the latter part of the Middle Ages. If one farmer continued to cultivate a piece of land at the back of his farm and the farmer’s neighbor did not object, then after 7 years, he owned the land. At the time of course, it was not worth much..