What Is a POTL? What Ontario Buyers Need to Know About Parcels of Tied Land
Posted by Maryann Quenet on
What Is a POTL? What Ontario Buyers Need to Know About Parcels of Tied Land
You find a townhouse that checks almost every box. It has a private backyard, its own driveway, and the listing describes it as freehold.
Then you notice one line: POTL fee: $185/month.
If it is freehold, why is there a monthly fee? Is it actually a condo? What does the fee cover, and can it increase?
A Parcel of Tied Land, usually shortened to POTL, is a freehold property legally connected to an ownership interest in a common elements condominium corporation.
That means you own your house and land as freehold property, but you also share ownership and financial responsibility for certain common elements. These might include private roads, visitor parking,…
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