Sentences with phrase «of strata properties»

Given the complex nature of strata properties, Realtors have taken several steps to educate themselves and the public.

What does this mean for buyers of strata properties (i.e. condo units, etc.) in British Columbia?

Strata Councils should note that Section 151 of the Strata Property Act should always be maintained to protect council members from any liability and / or expenses more...

To the extent that he acts on behalf of strata property managers and numerous strata corporations, he provides representation not just as litigation counsel appearing at the superior Courts of British Columbia, at arbitration, mediation and administrative tribunals such as the Human Rights Tribunal, Employment Standards and City Variance hearings, but also as legal advisor in the strata and real estate regulatory fields as well as all other areas of the law.

Description: Class actions by individual strata lot owners were permitted under the Class Proceedings Act, despite representative action provisions of the Strata Property Act.

Sections 171 and 172 of the Strata Property Act, S.B.C. 1998, c. 43, permitted a strata corporation to bring an action on behalf of and as a representative of owners.

A recent decision on the Supreme Court of British Columbia has dismissed a strata property owner's constitutional challenges to certain provisions of the Strata Property Act.

The British Columbia Law Institute has just published its Report on Terminating a Strata recommending reform of the Strata Property Act provisions allowing a strata to wind up its strata corporation and cancel the strata plan.

The underlying rationale for the legislative amendments that brought about the Depreciation Report requirement, was to improve the transparency for buyers of strata property.

(i) the money claimed by the strata corporation has been paid into court, or to the strata corporation in trust, under section 114 of the Strata Property Act, or

I certify that the conversion of the buildings included in this strata plan have been approved under section 242 of the Strata Property Act.

the strata plan has fewer than 5 strata lots, the written consent required by section 274 (c)(i) of the Strata Property Act has been given and the strata corporation meets the requirements of section 274 (c)(ii)(B).

2 The amount owing to the strata corporation as of... [month day, year] is $..., plus costs permitted under section 118 of the Strata Property Act.

* Section 143 (2) of the Strata Property Act provides that, if this Rental Disclosure Statement is filed after December 31, 2009, a bylaw that prohibits or limits rentals will not apply to a strata lot described in this table until the date set out in the table opposite the description of the strata lot, whether or not the strata lot is conveyed before that date.

(a) a resolution referred to in section 272 of the Strata Property Act was passed by an 80 % vote at an annual or special general meeting held on... [month day, year],

The restrictions imposed on the lease, assignment or occupancy of the strata lots under sections 206 of the Strata Property Act are as follows:

* Note: The allocation of a parking stall that is common property may be limited as short term exclusive use subject to section 76 of the Strata Property Act, or otherwise, and may therefore be subject to change in the future.

The Owners, Strata Plan... [the registration number of the strata plan] certify that a resolution referred to in section... [section number] of the Strata Property Act or section... [section number] of the Strata Property Regulation was passed by a....

In addition to attachments mentioned above, section 59 (4) of the Strata Property Act requires that copies of the following must be attached to this Information Certificate:

For the purposes of section 165 (4)(f) of the Land Title Act, execution of the attached instrument has been approved by a resolution at an annual or special general meeting in accordance with the requirements of the Strata Property Act or the Strata Property Regulation, and the instrument conforms to the resolution.

The Owners, Strata Plan... [the registration number of the strata plan] certify that a resolution referred to in section 269 of the Strata Property Act was passed by a 3/4 vote at an annual or special general meeting held on... [month day, year], and that the attached instrument, schedule, plan or other document conforms to the amalgamation agreement.

-LSB--RSB- a changed Rental Disclosure Statement filed under section 139 (4) of the Strata Property Act, and the original Rental Disclosure Statement filed in the relation to the above - noted strata plan was filed on... [dd / mmm / yyyy]...

The Owners, Strata Plan... [the registration number of the strata plan] certify that the attached document (s) referred to in section 283 of the Strata Property Act were approved by a resolution passed by a 3/4 vote at an annual or special general meeting held on... [month day, year].

1 The owner of the strata lot described below has failed to pay the strata corporation one or more of the amounts owing under section 116 of the Strata Property Act.

3 The strata corporation claims a lien under section 116 of the Strata Property Act for the amount owing under paragraph 2 against the strata lot described below.

which according to the Phased Strata Plan Declaration in Form P filed for this strata plan was to have been constructed in conjunction with this phase, has been provided for in accordance with section 225 (2) of the Strata Property Act.

The purchase price of each strata lot under section 214 of the Strata Property Act is to be calculated as follows:

The Owners, Strata Plan... [the registration number of the strata plan] certify that the following or attached amendments to the bylaws of the strata corporation were approved by a resolution passed in accordance with section 128 of the Strata Property Act at an annual or special general meeting held on... [month day, year] *:

The Owners, Strata Plan... [the registration number of the strata plan] certify under section 115 of the Strata Property Act that the owner of the strata lot described as

(Section 22 of the Strata Property Act.)

In relation to a strata corporation, the owner - developer, as defined in the Strata Property Act, is exempt from the requirement to be licensed under Part 2 of the Act in respect of strata management services provided to or on behalf of the strata corporation, but only until control of the strata corporation's money is required to be transferred under section 22 of the Strata Property Act.

Some knowledge of the Strata Property Act and Strata administration in general would be preferred.

2.19 In relation to a strata corporation, the owner developer, as defined in the Strata Property Act, is exempt from the requirement to be licensed under Part 2 of the Act in respect of strata management services provided to or on behalf of the strata corporation, but only until control of the strata corporation's money is required to be transferred under section 22 of the Strata Property Act.

(a. 1) the circumstances, in addition to those set out in sections 24 (1) and 39 of the Strata Property Act, in which the agreement may be terminated by either or both of the client and the brokerage;

(e) a description of the records that are to be kept by the brokerage on behalf of the strata corporation, including an indication of which, if any, of the records required under section 35 of the Strata Property Act that the brokerage will retain on behalf of the strata corporation;

Under the Strata Property Act, it is up to the owners themselves, with the possible assistance of the courts or an arbitrator and / or mediator, to resolve disputes and ensure compliance with the provisions of the Strata Property Act.

There are various scenarios that strata managers may encounter in relation to the operation of sections which involve the application of the Strata Property Act («SPA»), the Real Estate Services Act («RESA») and the Rules.

Effective July 2014, section 6.11 of the Strata Property Regulation is amended to allow strata corporations to invest in a range of high quality investments, such as certain bonds and fixed income exchange traded funds.

The addition of new section 74.1 authorizes the Real Estate Council to appoint a representative of strata property owners to the Council.

According to Section 6.2 of the Strata Property Regulation, a «qualified person» means «any person who has the knowledge and expertise to understand the individual components, scope and complexity of the strata corporation's common property, common assets and those parts of a strata lot or limited common property, or both, that the strata corporation is responsible to maintain or repair.»

For strata managers, this means care is needed to ensure that all investments comply with the requirements of the Strata Property Regulation.

While there are many GIC's and other investment vehicles available on the market, not all meet the requirements of the Strata Property Act.

For example: Section 6.11 (b)(ii) of the Strata Property Regulation allows strata corporations to invest contingency reserve or special levy funds in a guaranteed investment certificate (GIC), if:

The Council reminds licensees to be cautious of posting copies of meeting minutes, Form B Information Certificates, budgets, etc., on the internet without ensuring that the requirements of the Strata Property Act are followed.

It has once again come to the Council's attention that some trading services licensees and some strata management brokerages are posting copies of strata records, such as minutes of meetings, Form B Information Certificates, budgets etc., on the internet without ensuring that the requirements of the Strata Property Act are followed.

Section 116 of the Strata Property Act gives a strata corporation the authority to register a lien against an owner's strata lot under certain circumstances in a prescribed form — Form G - Certificate of Lien.

OIC 809-2012 — Strata Property Act — Section 8.1 (2) of the Strata Property Regulation, B.C. Reg.

Alternatively, if the brokerage does not wish to assume the responsibility to prepare and maintain the parking stall list required by section 35 of the Strata Property Act, the brokerage should amend its contract with the strata corporation to delete this obligation.

Section 76 of the Strata Property Act (the «SPA») allows a strata council to designate common property for the exclusive use of a tenant or owner.

Balancing Opportunity and Responsibility: New Amendments to Strata Property Regulation Take Effect On July 17, 2014, an amendment to Section 6.11 of the Strata Property Regulation took effect, simplifying the provisions governing investments of contingency reserve funds and money collected for special levies.