Cave Girl in the City: Me, My Mortgage and I

Wednesday, April 6, 2016

Me, My Mortgage and I

Last year in the month of June, I became a homeowner.

Or as I like to call it. A home possessor.

And by home I mean condo.

So really, last year in June I borrowed a bunch of money from the bank to be able to possess my 750 sqf condo for an undetermined length of time.

The reason I use the word possess rather than own is because this is what you get in Canada when you "buy property".

Real property laws in Canada state that the Crown is the only absolute property owner of land. All people who "purchase" land are fee simple owners, and they have the right to freely use the land, enjoy it, sell it, rent it, lease it, and to pass it onto their heirs.

This might surprise you, especially if you have recently purchased a home.

This might surprise you, especially if you are thinking about purchasing a home.

This might surprise you and turn you away from purchasing a home.

What you need to remember is that it has been this way since the year 1066, when William the Conqueror captured England. (I know, hard to understand why this even matters)

So don't let this turn you off from purchasing a home. I think it's really good information to be aware of.