On May 5, 2001, when the Condominium Act, 1998 came into force, it created the real estate entity known as a Parcel of Tied Land (“POTL”). A POTL is a freehold parcel of land, or a standard condominium unit, which is inextricably tied to a share in a Common Elements Condominium (“CEC”). The POTL is “tied” to the share in the CEC in the sense that the owner must transfer or mortgage them together.
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