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ASSIGNMENT OF LEASE

Selling a home in U/D

As the University of Calgary holds the underlying fee simple title to University District, residents of University District hold subleasehold title rather than traditional fee simple title. Given this ownership structure, in University District homeowners ‘sublease’ their units under a 99-year sublease term (the Residential Lease as defined below). To help facilitate the resale process, the resources below have been compiled to allow either counsel for the purchaser or the vendor of units an understanding of the process and required procedure to ensure a seamless sales process.

As noted above, the residential condominium unit titles of University District are legally subleasehold titles. These subleasehold titles are subject to the terms of: a) a head lease from The Governors of the University of Calgary to the University District Trust, by its trustee, the University of Calgary Properties Group Ltd. (the “Trust” and the “Head Lease” respectively); and b) a residential sublease from the Trust to the original developer of the residential project (who assigned its interest in this residential sublease to the original owner of each residential condominium unit) (the “Residential Lease”).

Pursuant to the Residential Lease, each sale of a residential unit in University District requires the purchaser and vendor of the unit to sign a Condominium Unit Assignment Agreement to assign the vendor’s interest in the Residential Lease for the unit to the purchaser (this agreement will also be signed by the Trust).
In order to facilitate financings of the residential condominium units in University District, the Residential Lease provides that the Trust will grant a Condominium Unit Tripartite Agreement to the lenders of the residential condominium unit owners. The Condominium Unit Tripartite Agreement provides certain comforts to the lenders with respect to the Residential Lease, defaults under the Residential Lease and mortgage enforcement by the lender.

The Process

An overview of this process, how to access copies of the various Head Leases and Residential Leases for University District, and a form to initiate a request for transfer can be found below. This process should be initiated and completed by either counsel for the purchaser or the vendor of a unit in University District.

Using the details provided in the below chart, counsel to determine in which Block does the condominium unit, parking stall(s) and storage unit(s) (collectively, the “Unit”) being purchased/sold belong.

Using the details provided in the below chart, counsel to determine in which Block does the condominium unit, parking stall(s) and storage unit(s) (collectively, the “Unit”) being purchased/sold belong.

Attach certificate(s) of title for the Unit.

Provide your name and contact information for delivery of the conveyance documents, as requested (the “Resale Documents”).

Once a submission form is received, McMillan LLP will generate and provide counsel with PDF copies of the Resale Documents with the Trust’s executed signature pages (generally McMillan LLP will generate these documents within 2 business days of the request), which executed signature pages are not releasable until McMillan LLP receives the items described in step 6.

Counsel to provide PDF copies of the following to McMillan LLP within a reasonable amount of time, and no later than 30 days, following the closing of the Unit:
a. certificate(s) of title for the Unit registered in the name of the purchaser; and
b. fully executed Resale Documents.

McMillan LLP to acknowledge receipt of same.

Blocks and Leases

Copies of the various Head Leases and Residential Leases for University District can be retrieved from the Alberta Land Titles Office directly using the information provided in this table.

Capella

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1811902
Block 3
Lot 1
Excepting thereout all mines and minerals
Area: 1.156 Hectares (2.86 Acres) More or Less

2011854

191 041 026

191 041 083

Ivy

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1612667
Block 4
Lot 1
Excepting thereout all mines and minerals
Area: 2.2 Hectares (5.44 Acres) More or Less

1810514

171 059 202

171 059 246

Maple

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1810147
Block 7
Lot 5
Excepting thereout all mines and minerals

1911895

181 063 012

181 063 093

Noble (Townhomes)

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1612667
Block 10
Lot 1
Excepting thereout all mines and minerals
Area: 0.5 Hectares (1.24 Acres) More or Less

1811576 (building 1)
1811581 (building 2)
1811555 (building 3)
1811575 (building 4)
1811148 (building 5)
1811554 (building 6)

171 058 455

171 058 743

Noble (Apartments/Condos)

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1612667
Block 10
Lot 2
Excepting thereout all mines and minerals
Area: 0.59 Hectares (1.46 Acres) More or Less

1810698 (Building 1 - West)
1811149 (Building 2 - East)

171 058 509

171 058 846

August

Block Description

Condominium Plan Numbers

Head Lease

Land Titles Registration Number

Sublease

Land Titles Registration Number

Plan 1711979
Block 14
Lot 1
Excepting thereout:
Plan Number
Hectares (Acres) More or Less
Strata 1911809
Excepting thereout all mines and minerals

2011323

191 188 258

191 188 358

Submission Form

The below form has been provided as a resource for counsel for the purchaser or the vendor to initiate the request for the required documentation associated with the sale of units in University District.

Please ensure you follow these procedures carefully and that all the information in your submission is correct. Please note that University of Calgary Properties Group Ltd. as the Trustee for the Trust does not provide legal advice. If you have any questions or concerns regarding your particular transaction, or if the specific details of your transaction do not exactly fit in with the fields as outlined below, please contact McMillan LLP at UniversityDistrict.Conveyancing@mcmillan.ca.

    Requester Information



    Your Block

    DOCUMENTS REQUIRED


    Your Unit




    Vendor Questions

    Purchaser Questions

    POSSESSION QUESTIONS



    IF THE PURCHASER IS OBTAINING A MORTGAGE:




    ATTACH FILES