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Frequently Asked Questions > Owners and Units > Selling a parking lot to a new owner who does own only this parking and adjust the previous owner fraction
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Selling a parking lot to a new owner who does own only this parking and adjust the previous owner fraction
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Question : A parking lot is sold to another owner. This new owner leaves in another building and will have only the parking lot in our community. We manage a condominium association and we use the fractions (rates of ownership) to calculate the maintenance fees which must be maintened at 100%.
How can we do this ?
| • | Use the menu Info > Units |
| • | Type the information for this new unit |
| o | The parking lot number could be the unit identification |
| • | Type the number of the parking lot and its fraction |
| o | Now, you have a new unit created and available to be attributed to a owner |
| • | Click on the tab ‘’Sales/Lease and notes” |
| • | Add a note explaining the situation, the parking lot being bought by… the date and all useful details |
| • | Click on “Save” but don’t exit the window |
| • | Stay in the same menu (Info > Units) |
| • | Select the unit where the parking lot was recorded previously |
| • | Delete the Parking Number and its fraction |
| • | Click on ‘’Save’’ and on ‘’Exit’’ |
| • | Then, use the menu Info > Owners |
| o | Select the unit number (the one you had created before) to link that unit to the new owner |
| • | Type an account number which must absolutely be only numerical (within the range specified) |
| • | Type the appropriate information about the new owner |
| o | Because even if he has only a parking lot, he is a owner |
| • | Click on the tab ‘’Notes’’ and type a note if you believe it could help future readers |
| • | Click on ‘’Save’’ and on ‘’Exit’’ |
All future calculations for maintenance fees will be calculated for the new owner with only that parking fraction and the previous owner will not be charged any more for this parking lot.