Acts and Regulations

C-16.05 - Condominium Property Act

Section 51
Disposition versions

Full text
Estoppel certificate
51(1)On the application of an owner or a purchaser of a unit and common interest, a corporation shall issue an estoppel certificate in a form prescribed by regulation with copies of the declaration, by-laws and reserve fund study, if applicable, attached.
51(2) A corporation shall certify the following in an estoppel certificate:
(a) the amount of any assessment and accounts owing by the owner to the corporation for which the corporation has a lien or right of lien against the unit and common interest of the owner;
(b) the manner in which the assessment and accounts are payable;
(c) the extent to which the assessment and accounts have been paid by the owner;
(d) the unit identified by unit number, level number, condominium corporation number and any applicable civic and suite numbers;
(e) the name, address and telephone number of the condominium management company or manager;
(f) the names and addresses of the officers of the corporation;
(g) the current amount of the common expenses and whether they are prepaid or collected as they become due;
(h) how the reserve fund is collected and, if collected as a percentage of common expenses, what that percentage is;
(i) the balance of the reserve fund;
(j) any assessments that are due in the current fiscal year;
(k) any major capital expenditures that are planned by the corporation;
(l) any lawsuits that have been instituted or are pending by or against the corporation;
(m) the debt carried by the corporation from previous expenditures;
(n) any insurance coverage and the amount or value of each policy;
(o) the content of any proposed by-laws, proposed amendments to existing by-laws or proposed amendments to the declaration;
(p) the name of each person who owns 10% or more of the common elements; and
(q) any other information prescribed by regulation.
51(3)An estoppel certificate is conclusive proof of the matters it certifies in favour of any person dealing with the owner of the unit that is the subject of the certificate.
51(4)When an owner or purchaser applies for an estoppel certificate, a corporation may charge a reasonable fee for labour and copying.
51(5)A corporation shall issue an estoppel certificate within 10 days after receiving an application or the payment of the fee charged by the corporation, whichever is later.
51(6)If an estoppel certificate omits material information that it is required to contain, it shall be deemed to include a statement that there is no such information.
51(7)If a corporation does not issue an estoppel certificate within the required time, it shall be deemed to have issued a certificate on the day immediately after the required time has expired stating the following:
(a) there has been no default in payment of the common expenses for the unit;
(b) the board has not declared an increase in the common expenses for the unit since the date the budget of the corporation for the current fiscal year was approved; and
(c) the board has not levied an assessment against the unit to increase its contribution to the reserve fund since the date the budget of the corporation for the current fiscal year was approved.
Estoppel certificate
51(1)On the application of an owner or a purchaser of a unit and common interest, a corporation shall issue an estoppel certificate in a form prescribed by regulation with copies of the declaration, by-laws and reserve fund study, if applicable, attached.
51(2) A corporation shall certify the following in an estoppel certificate:
(a) the amount of any assessment and accounts owing by the owner to the corporation for which the corporation has a lien or right of lien against the unit and common interest of the owner;
(b) the manner in which the assessment and accounts are payable;
(c) the extent to which the assessment and accounts have been paid by the owner;
(d) the unit identified by unit number, level number, condominium corporation number and any applicable civic and suite numbers;
(e) the name, address and telephone number of the condominium management company or manager;
(f) the names and addresses of the officers of the corporation;
(g) the current amount of the common expenses and whether they are prepaid or collected as they become due;
(h) how the reserve fund is collected and, if collected as a percentage of common expenses, what that percentage is;
(i) the balance of the reserve fund;
(j) any assessments that are due in the current fiscal year;
(k) any major capital expenditures that are planned by the corporation;
(l) any lawsuits that have been instituted or are pending by or against the corporation;
(m) the debt carried by the corporation from previous expenditures;
(n) any insurance coverage and the amount or value of each policy;
(o) the content of any proposed by-laws, proposed amendments to existing by-laws or proposed amendments to the declaration;
(p) the name of each person who owns 10% or more of the common elements; and
(q) any other information prescribed by regulation.
51(3)An estoppel certificate is conclusive proof of the matters it certifies in favour of any person dealing with the owner of the unit that is the subject of the certificate.
51(4)When an owner or purchaser applies for an estoppel certificate, a corporation may charge a reasonable fee for labour and copying.
51(5)A corporation shall issue an estoppel certificate within 10 days after receiving an application or the payment of the fee charged by the corporation, whichever is later.
51(6)If an estoppel certificate omits material information that it is required to contain, it shall be deemed to include a statement that there is no such information.
51(7)If a corporation does not issue an estoppel certificate within the required time, it shall be deemed to have issued a certificate on the day immediately after the required time has expired stating the following:
(a) there has been no default in payment of the common expenses for the unit;
(b) the board has not declared an increase in the common expenses for the unit since the date the budget of the corporation for the current fiscal year was approved; and
(c) the board has not levied an assessment against the unit to increase its contribution to the reserve fund since the date the budget of the corporation for the current fiscal year was approved.