Types of HomeOwnership

Options vary slightly between provinces, but you can choose between the following ownership types in Alberta:

Fee Simple: you own the building and the land. “Fee simple” tenure is the most common type of ownership. Owners of single-family homes — who own both their home and the land it is on — hold the property in fee simple, for example. In contrast, condominium owners who own their unit but not the land on which the complex is built, do not.

Leasehold: you own the building and rent or lease the land

Condominium (or “strata”) you own your unit and share common elements