Whiteshell Provincial Park buying a cottage on leased land

Whiteshell Provincial Park buying a cottage on leased land
A 21 year renewable lease is the standard format for most Provincial Parks in Manitoba, including the Whiteshell Provincial Park. 
What is a 21 year renewable lease you might ask? The lease is a legal contract with the province which ensures your tenure on your lot. 
What happened at the end of your 21 year lease? Generally Parks branch will notify you 6 months before your lease expires, you will then apply for an additional 21 year lease by competing the proper paperwork and submitting to Parks Branch. 
One major costs savings to buying a 21 year lease is no land transfer tax when you purchase and you generally do not pay any taxes only the lease fee. 
When looking to purchase a property on a lease make sure to speak with your lender or bank regarding your financing options. Mortgaging a lease property can be difficult and may take some alternative financing options. 
Want to learn more about Manitoba Provincial lease CLICK HERE to download the Manitoba Parks Cottagers Handbook 


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