Parcel of Tied Land (What is a POTL anyway?)

While a POTL (Parcel of Tied Land) itself is not new, it is somewhat of a foreign term for our area. There are a few communities that operate under the POTL type of ownership.

With a POTL, each home or townhome owner typically owns a piece of land and the building on it and also has a part ownership in the common elements of the Common Element Condominium (CEC). The common elements include things like parking areas, access roads, sidewalks, and parks.

As an owner of a POTL, and part owner of the common elements, you will have the right to use the common elements facilities.

Are you familiar with this term? Take this four-question quiz to see if your knowledge of POTLs is great, or if it needs a bit of work.