Park City Village Condos for Sale

Old Town Real Estate in Park City, Utah

Park City Village condominiums are also known as the Resort Center and is located in Park City Utah in Old Town at 1385 Lowell Ave at the base of Park City Mountain Resort.  These condos are at the base of Park City Mountain Resort and are surrounded by amenities such as food, ice skating rink, mountain biking, the alpine slide and much more.  While the location is great for skiers and outdoor enthusiasts there's a bit of complexity to the land the condos sit on.  If you are interested in buying a Park City Village property you, and possibly an attorney, should review the title work.  Continue reading below. 

Park City Village MLS Listings

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Upon review of title work dated July 1, 1981, between Greater Park City a Utah corporation (hereinafter referred to as "Landlord") ... and Village Venture LTD., (Hereinafter referred to as "Tenant").  SECTION 1. Premises: Landlord hereby leases and lets to Tenant, Tenant hereby takes and hires from Landlord, upon and subject to (illegible) conditions, convents and provisions hereof, all that certain real property located in Park City, Utah, more particularly described on Exhibit I which is annexed hereto and made part hereof, together with any and all improvements, appurtenances, rights, privileges and easements benefiting, belonging or pertaining thereto, and any right, title and interest of Landlord in and to (illegible) land lying in the bed of any street, road or highway (open or proposed) the centerline thereof, in front of  ...

SECTION 2. Term:

(a) The term of this lease shall commence on July 1, 1981, which date is hereafter referred to as the "Commencement Date."

(b) The term of this lease shall be for the period beginning on the Commencement Date and ending December 1, 2080, unless sooner terminated as herein Provided

SECTION 5. Use of Premises: Tenant shall place and erect upon the Demised Premises a structure consisting of two levels of parking and related uses, commercial space (consisting of several condominiums), and forty-seven residential condominiums. Plans relative thereto have previously been submitted to Landlord and approved by Landlord.  Tenant intends to sell the forty-seven residential condominiums to individual purchasers, and each of (illegible) purchasers shall have the right (a) to place or maintain permanent financing on the condominiums so purchased and (b) to use and occupy the condominiums purchased by such purchaser for a term expiring December 1, 2070, without being required to pay any rent ... Landlord shall have the right to control all of the parking spaces which are included within the Demised Premises and to use at least 23 of the 30 parking spaces contained in the Demised Premises for the exclusive use of itself and its designees. 

What does that mean?  Well, that's just a segment of a 30-page document that I believe is extremely important to get information about and since this information is for entertainment purposes only I'd recommend having an attorney review if you're considering buying a Park City Village property.   The Old Town area can be a complex market to navigate due to the number of condominium projects that have different sets of HOA rules and history.  If you're considering purchasing in Old Town please reach out to me with any questions. 

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