Understanding Condominiums and Co-Operatives
Condominiums and Co-operatives are legal structures that define both the exclusive rights and the shared rights of individuals who purchase a Unit/Percentage Interest in buildings created as one of these types of legal entity
IMPORTANT […]
Marty's Musings Archives - Page 26 of 28 -
IMPORTANT FEATURES OF CONDOMINIUMS AND CO-OPERATIVES FOR THE PURCHASER
A RECENT TORONTO STAR HEADLINE – SCREAMED: “CONDO FAILED TO DELIVER ON SALES PITCH……”
Amongst several recent articles relating to class action law suits against condominium developers and builders, a Toronto Star article published April 27, 2014 reported that a $30 million class-action lawsuit has been launched on the basis that the developer failed to deliver on its promises to buyers […]
Condominium: A Standard Condominium Unit Defined – Is Your Unit Properly Insured?
1) Beware of Gaps in Coverage
A major change introduced by the Condominium Act, 1998 was to require all Condominium Corporations to pass a by-law, for insurance purposes, defining a “standard unit” of the Condominium building. Every Condominium Corporation must also obtain and […]
The Residential Tenancies Act
The Residential Tenancies Act, 2006
At the end of June 2012, there were several changes enacted with respect to the Residential Tenancies Act, 2006 which are now in force. For the calendar year 2014, the guideline for the maximum percentage increase for rents which do not […]