LAW 703 Lecture 12: LAW703_Week12
LAW703 - Condos
Creation of Condo
1. Govt Approval
2. Registration
S.2(3) – Condo Act: Declaration and Description
Declaration = Constitution
Description – shows all the units in the condo building
a) The act governs the land and the interest appurtent to the land; as the land and the
interests are described in the description.
b) The land described in the description is divided into units and common elements in
accordance with the description; and
c) A condominium corporation is created
Subdivision Control
9(1) Condo Act – Section 50 of the planning act does not apply in respect of,
a) Dealing with whole units and common interests, or
b) Easements transferred by or reserved to the …
Different Types of Condos
1. Standard
2. Vacant land
3. Common element
4. Leasehold
5. Phase
Standard Condo
- Almost all high-rise condos are standard condos
- Consists of units and Common elements = fitness room, elevator, lobby
- Built on Fee Simple Land (Freehold Land)
- Most Common
Vacant Land Condos
- Like a subdivision without public roads
- Units consists of vacant lands
- Buildings and structures are constructed after the condo is registered
- Common elements = roads, storm, sanitary and storm sewers
- Unit owners pay common expenses
- Flexibility
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
9(1) condo act section 50 of the planning act does not apply in respect of: dealing with whole units and common interests, or, easements transferred by or reserved to the . Different types of condos: standard, vacant land, common element, leasehold, phase. Consists of units and common elements = fitness room, elevator, lobby. Buildings and structures are constructed after the condo is registered. Common elements = roads, storm, sanitary and storm sewers. S. 1(1) - unit part of the property designated as a unit by the description. Jointly owned by the unit owners as tenants-in-common. Term of lease must be at least 40 years to 99 years, plus right of renewal. At end of lease the building reverts to landlord. 1st phase is registered subsequent phases of the project are merged or collapsed into the existing condo. Common elements condo second most popular breaks the rules of condos no units only common elements common elements consist of facilities.
