by Harjot Atwal | Jun 30, 2021 | Legal Issues
As a lawyer, when representing buyers of resale condominium properties, the main question my clients initially have is whether the condominium corporation is “financially healthy”. A condominium’s status certificate contains auditor’s reports and other relevant...
by Martin Rumack | Apr 23, 2020 | Legal Issues
Under Ontario’s Condominium Act, 1998 a condominium corporation is granted specific powers in the event that an owner fails to pay his share of the common expenses. Specifically, section 85 entitles the corporation to a lien against the defaulting owner’s unit, which...
by Bob Aaron | May 7, 2018 | Featured, Legal Issues
In perhaps 80 to 100 transactions in the last 15 years, Toronto Realtors wound up listing and selling condominium units that were not owned by their seller clients. It now appears that 22 condominium owners in a north Toronto project do not own the units they are...
by MarkWeisleder | Mar 30, 2017 | Advice for Agents, Featured, Legal Issues
As a result of bidding wars for condominiums, buyers are being asked to review a condominium status certificate in advance in order to submit an offer without conditions. Here are some items I look at and questions I ask when reviewing a status certificate in advance...
