What Is A Condo Buying a newly built condominium unit can involve complicated issues Depending on whether the person is purchasing a pre construction condo or one that has just been completed a buyer may have to deal with an interim closing date a final closing date and occupancy fees These arise because the new condominium project cannot be legally registered until the building is fully
Condo property management Property management companies Property management companies are hired by the Boards of condominium corporations called syndicates in Quebec and strata corporations in BC as an agent of the Board to assist with fulfilling its responsibilities to manage the building and ensure the condo tenants needs are met The property Across Canada many New Home Warranty Plans include a Delayed Closing Warranty section in which a builder guarantees that a home will be ready by the closing date specified in the purchase agreement or by a date that has been properly extended If the closing date is delayed beyond the original closing date or properly extended date then compensation may be payable for such
What Is A Condo
What Is A Condo
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Yes According to all provincial and territorial condominium legislation if a unit owner fails to pay either the common expenses or a special assessment or in some cases contributions towards the reserve fund or expenses for work or repairs ordered by a public authority such as the fire marshall a lien may be registered against the condominium unit called a strata in BC Once Condominium unit A condominium unit is for the exclusive use of the individual condominium owner and may consist of a residential unit a storage locker a parking spot or a utility closet to name just a few examples What a condominium unit consists of in any given circumstance is described in the declaration and the unit boundaries are outlined in a schedule to the
The Board is elected by the condominium owners at the annual general meeting and as such represent the condo owners Real estate matters such as electing a condominium board of directors can be complicated To get help ask a lawyer now Director qualifications To serve on a condominium Board a person must meet five requirements 1 What main laws govern condominiums Across Canada provincial and territorial legislation governs the establishing purchasing living in and governing of condominiums Real estate matters such as the buying and selling of condominiums involve large sums of money and complicated legal issues To get help Provincial and territorial legislation Alberta
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What is a status or estoppel certificate A status certificate is a document prepared by the condominium corporation for buyers of resale condos that provides a snapshot of the unit as at the date that the certificate is issued This document is also known as an estoppel certificate in many provinces including Alberta New Brunswick Newfoundland and Labrador Nova Scotia Any offer or counter offer can be withdrawn if there is a time limit on the offer or counter offer and it passes without being accepted It can also be withdrawn before the other party formally accepts it that is with his or her properly witnessed signature Although offers and counter offers are normally irrevocable during a time period specified by the offeror if there has been no
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https://www.legalline.ca › legal-answers › buying-a-new-or-resale-condo…
Buying a newly built condominium unit can involve complicated issues Depending on whether the person is purchasing a pre construction condo or one that has just been completed a buyer may have to deal with an interim closing date a final closing date and occupancy fees These arise because the new condominium project cannot be legally registered until the building is fully
https://www.legalline.ca › legal-answers › condo-management-training
Condo property management Property management companies Property management companies are hired by the Boards of condominium corporations called syndicates in Quebec and strata corporations in BC as an agent of the Board to assist with fulfilling its responsibilities to manage the building and ensure the condo tenants needs are met The property
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