What is a Lease Survey?
Lease Surveys can be both of land or buildings. A lease is a contractual agreement between the lessor, the owner of the parcel, and the lessee, allowing exclusive possession of all of or part of the lot or building.
A lease of part of a build, such as for commercial space, residential or retirement living; is prepared for rental purposes for the term of the lease. The lease can be registered at the Land Titles Office or if the lease is less than 3 years it can be held as a private agreement between parties. However, a registered lease may help avoid legal disputes between the parties if they arise.
A surveyor measures the structural elements of the building much like a Building Format Plan (BFP) to define the area of the lease and prepares a Plan for Lease Purposes to describe the building elements used, the area of the lease and dimensions where applicable.
See also: Building Floor Areas
A lease of land is typically prepared by survey under a Standard Format Plan (SFP). We have prepared lease plans of this type for things such as Telecomunications towers on freehold land or they can be defined atop of existing buildings. A land lease of this type must be registered at the Land Titles Office.
See also: Easement Survey