Acts and Regulations

C-16.05 - Condominium Property Act

Section 47
Disposition versions

Full text
Sale of part of the common elements
47(1)The sale of any part of the common elements of a condominium property shall be authorized by
(a) a vote of the owners of at least 60% of the common elements, and
(b) the consent of any non-owners who would be affected by the sale and who have registered encumbrances that were created after the approval for registration of the declaration and description.
47(2)The following documents with respect to a sale referred to in subsection (1) shall be submitted to the Director for approval:
(a) a deed or transfer executed by the officers of the corporation; and
(b) a release or discharge given by all the persons referred to in paragraph (1)(b).
47(3)A deed or transfer referred to in paragraph (2)(a) has the same effect as if it were granted by all the owners of the common elements to which the deed or transfer relates.
47(4)On approval of the documents referred to in subsection (2), the Director shall do the following:
(a) endorse the documents with a certificate of approval for registration in the form prescribed by regulation;
(b) deliver a copy of the endorsed documents to the corporation; and
(c) submit the endorsed documents for registration to the registrar of land titles or the registrar of deeds, as the case may be, along with any fee prescribed under the Land Titles Act or the Registry Act.
47(5)On the registration of the documents referred to in subsection (2),
(a) the Act ceases to govern the part of the common elements that has been sold,
(b) registered encumbrances against the part of the common elements that has been sold that were created before the registration of the declaration and description are as effective as if the declaration and description had not been registered, and
(c) registered encumbrances against the part of the common elements that has been sold that were created after the registration of the declaration and description are extinguished.
47(6)When a sale is authorized under this section, an owner who dissented may elect to have the fair market value of the part of the common elements at the time of the sale determined by arbitration by serving notice on the corporation under subsection 59(1) to that effect within 10 days after the vote, and the owner who served the notice is entitled to receive from the proceeds of the sale the amount the owner would have received if the sale price had been the fair market value as determined by arbitration.
47(7)If the proceeds of the sale are inadequate to pay the amount determined under subsection (6), each owner who voted for the sale is liable for a portion of the deficiency determined by the owner’s proportion of the common interests.
Sale of part of the common elements
47(1)The sale of any part of the common elements of a condominium property shall be authorized by
(a) a vote of the owners of at least 60% of the common elements, and
(b) the consent of any non-owners who would be affected by the sale and who have registered encumbrances that were created after the approval for registration of the declaration and description.
47(2)The following documents with respect to a sale referred to in subsection (1) shall be submitted to the Director for approval:
(a) a deed or transfer executed by the officers of the corporation; and
(b) a release or discharge given by all the persons referred to in paragraph (1)(b).
47(3)A deed or transfer referred to in paragraph (2)(a) has the same effect as if it were granted by all the owners of the common elements to which the deed or transfer relates.
47(4)On approval of the documents referred to in subsection (2), the Director shall do the following:
(a) endorse the documents with a certificate of approval for registration in the form prescribed by regulation;
(b) deliver a copy of the endorsed documents to the corporation; and
(c) submit the endorsed documents for registration to the registrar of land titles or the registrar of deeds, as the case may be, along with any fee prescribed under the Land Titles Act or the Registry Act.
47(5)On the registration of the documents referred to in subsection (2),
(a) the Act ceases to govern the part of the common elements that has been sold,
(b) registered encumbrances against the part of the common elements that has been sold that were created before the registration of the declaration and description are as effective as if the declaration and description had not been registered, and
(c) registered encumbrances against the part of the common elements that has been sold that were created after the registration of the declaration and description are extinguished.
47(6)When a sale is authorized under this section, an owner who dissented may elect to have the fair market value of the part of the common elements at the time of the sale determined by arbitration by serving notice on the corporation under subsection 59(1) to that effect within 10 days after the vote, and the owner who served the notice is entitled to receive from the proceeds of the sale the amount the owner would have received if the sale price had been the fair market value as determined by arbitration.
47(7)If the proceeds of the sale are inadequate to pay the amount determined under subsection (6), each owner who voted for the sale is liable for a portion of the deficiency determined by the owner’s proportion of the common interests.