Photo: The Canadian Press
Many years ago when contractors built houses, very often there was not a lot of focus on where the property lines were. Sometimes the surveys were done after the house was built.
Consequently, some of the houses in the older areas are built on two lots. Sometimes the lot line is running right down the centre of the house. When these houses are sold the buyer and the buyer’s Realtor have to be careful that both lots are put on the contract.
There have been situations in the past where the owner of a home discovers that the house they bought fits on two lots and only one of those lots was transferred into the buyer’s name. Therefore they literally own half a house.
The remedy for this is relatively easy as long as everyone understood what the intent was. Usually it’s a small fee for the lawyers to correct the mistake and transfer the second lot into the buyer’s name. This is one of the many pitfalls from which a licensed professional Realtor can protect their buyers.
Even if the Realtor makes a mistake, they are covered by their errors and omissions insurance that would likely help out in correcting the mistake. The research that a Realtor does prior to making an offer in most cases would catch this mistake.
Bill Hubbard is a real estate broker and the owner and broker of a four-office real estate firm in the Okanagan-Shuswap. He has been in real estate for 28 years and has been an owner and broker in Vernon for 20 years. At almost 60 years old he is just as passionate about real estate as the day he started.
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