“I just saw my Deed and my parking space isn’t on it? How do I know which space is mine and how do I know I really own it?”
When purchasing a condo that has parking, it often concerns buyers when they do not see the parking space recorded on the Deed. The concern for you as the buyer, of course, is how you will guarantee that the parking space on your Purchase and Sale Agreement belongs to you if it isn’t on the Deed.
The most common method of recording parking spaces is to have the parking space assignments for all of the units in the building either included in the original Condominium Declaration or written up on an Amendment to the Condominium Declaration. You will often find this information on one of the Schedules that are attached to the recorded Declaration or on a Parking Assignment Amendment. The buyer will receive a copy of the Declaration and all recorded Amendments as part of the Resale Certificate disclosure package they receive when they purchase the condo. All buyers of condominiums in Washington State are entitled to receive a Resale Certificate from the Seller and have 5 calendar days to review that document. So, that review period would be the time for you to double check which parking space is yours and even locate it in the building and make sure that your car fits in it.
There are always exceptions to this standard. We have seen parking spaces on Deeds and we have seen parking spaces that are simply assigned to the units at a Homeowner’s meeting with everyone agreeing to which one is theirs. Every building is different but the majority will assign the spaces per the Declaration as an Amendment to the Declaration.
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.
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