Condominium Deals in Edmonton

Condominiums present special challenges for real estate lawyers.  In addition to the transferring of title and the placing of a mortgage, there are issues special to condominiums including:

Condominium Bylaws

Virtually every condominium association has their own special bylaws that can affect the property you are purchasing and the condominium as a whole.  Some of these bylaws may totally concern you, such as if they prohibit renting out your condo or having any pets.  Have you looked at the recent financial statements of the condominium corporation?

Condominium Financial Statements

Every condominium association has a set of finances and they are not all the same!  Some condo associations are in great financial shape, and others are in dire straits.  It is very important to review the financial statements as early in the process as possible.  Is there any money in the reserve fund?  What are upcoming costs?  Are they properly budgeting for these things?

Condominium Board of Directors Meetings

It can be useful to review the minutes of the meetings of the condominium association over the past number of years.  A lot can be learned about the property in such minutes, including possibly other problem owners, insurance matters and law suits.

Condominium Fees

If your unit is behind on the condominium fees due, there is going to be a problem.  The sooner you can find this out, the better.

Your lawyer can help you with these things.  Mr. Ed has been doing condominium transactions for over 25 years – he can help you.  Call Mr. Ed today.

For further information about purchasing a condominium see Service Alberta’s Consumer Tip Sheet – Buying and Owning a Condominium.

Call Edmonton real estate lawyer Mr. Ed – he can help you.

Condominium Property Act of Alberta

The Condominium Property Act of Alberta deals with many of the issues that arise out of condiminiums in Alberta.  Here are some of the headings from that legislation:

  • Condominium Plans
  • Sale of Units by Developers
  • Management Agreements
  • Amendment of Condominium Plans
  • Phased Development
  • Conversions
  • Easements
  • Condominium Corporation
  • Voting Rights
  • Board of a Corporation
  • Meetings of the Corporation
  • Bylaws
  • Powers and Duties of Corporation
  • Documents, Specifications and Approvals
  • Insurance
  • Dispositions of Common Property
  • Rental of Units
  • Administration of Corporation
  • Damage to Building
  • Termination of Condominium
  • Dissolution of Corporation
  • Assessment and Taxation
  • Miscellaneous
  • Dissolution

The actual legislation contains over 80 sections and there are regulations as well.  Edmonton real estate lawyer Mr. Ed has been dealing with condominiums for over 25 years.

Call Edmonton real estate lawyer Mr. Ed – he can help you.

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