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In Part 1 of our series, we highlighted four important deadlines for condominium corporations to be mindful of, whether in its early days or thereafter. The remainder of our top 8 list is set out below:
5. Amending or terminating mutual use agreement (i.e. shared facilities agreement)
- Section 113 of the Condominium Act, 1998 (Ontario) authorizes the Corporation to apply for a court order to amend or terminate a mutual use agreement within twelve (12) months of the turnover meeting, provided that: (i) the disclosure statement did not “clearly and adequately” disclose the provisions of the agreement; and (ii) the agreement, or any of its provisions, produces a result that is “oppressive or unconscionably prejudicial.”
6. Turnover documents
- Section 43 of the Condominium Act, 1998 (Ontario) requires the developer to turn-over documents to the Corporation.
- At the turnover meeting, the developer is required to provide the Corporation with a host of document, including but not limited to the following:
- the minute book;
- the Declaration, By-laws, Shared Facilities Agreement and Rules;
- agreements entered into on the condominium corporation’s behalf (i.e. management agreement, security agreement, sub-metering agreement, etc.);
- the register of owners.
- Within thirty (30) days of the turn-over meeting, the developer is required to provide a host of other documents, including but not limited to the following:
- as-built plans, drawings and specifications;
- financial records;
- reserve fund studies;
- proof that the units and common elements have been enrolled in Tarion;
- a maintenance and repair table.
- Within sixty (60) days of the turn-over meeting, the developer must provide the audited financial statements.
- If the developer fails to provide documents within the required timeframes (i.e. the standard unit schedule) and is non-responsive, then the Corporation may make an application to the Superior Court of Justice for the production of such documents.
7. Annual general meetings
- Section 45 of the Condominium Act, 1998 (Ontario) provides that the board shall hold a general meeting of owners not more than three (3) months after the registration of the declaration and description and subsequently within six (6) months of the end of each fiscal year.
8. Common expense arrears
- Section 85 of the Condominium Act, 1998 (Ontario) provides that the Corporation has three (3) months from the date of default to register a certificate of lien.
- At least ten (10) day before a certificate of lien is registered, the Corporation must give written notice of the lien to the owner.
- On or before the day a certificate of lien is registered, the Corporation must give written notice of the lien to every encumbrancer (i.e. mortgagee) whose encumbrance is registered against title
Please reach out to a member of our Condominium & Strata Group if you have any questions about these deadlines or other issues concerning your condominium corporation.