Buying a Condo? 4 Topics You Need To Discuss With Your Lawyer

More and more new home buyers are being attracted to condominiums. The following is a suggested check-list concerning condominium ownership that you might want to discuss with your lawyer:

1. Condominium units and common property
2. Owners’ rights and responsibilities regarding property
3. Group government and restrictions under any by-laws of the Condominium Corporation
4. Condominium maintenance fees and services

The Condominium Property Act and regulation affects condominium owners, buyers, sellers and developers. This tipsheet provides an overview of the key topics that you need to be aware of when buying and owning a condominium. However, it does not cover all of the special circumstances or unique situations that can arise, and is not a substitute for legal advice.

At NW Calgary Law, we consider the following matters:

. Search and convey separate titles for condo unit and parking stalls
. Search other encumbrances on title (ex. restrictive covenants)
. Ensure vendor provides Estoppel Certificate (condo fees up-to-date) and Certificate of Insurance
. Adjust with vendor for property taxes and monthly condo fees
. Confirm that there are no Special Assessments due
. Prepare and register Transfer of Land and Mortgage
.Discuss with client any by-law restrictions re: pets, children, tenants etc.
.Review condominium documents (by-laws, financial statements, reserve fund study, etc.) This is not part of our core service, so we generally recommend clients retain an outside professional condo document review company.
.May review purchase contract prior to condition removal
Peter Robinson (49 Posts)

Peter G. Robinson is an accomplished and skilled general practice lawyer in Calgary, Alberta. Over his 20 year career, Peter has carved out his niche in Residential Real Estate, Wills & Estate Planning, and Probate Applications. Uniquely available to his clients, Peter is a calm and patient communicator who easily puts his clients at ease with straight-forward explanations of legal concepts. Blogging is his latest venture to cultivate awareness of NW Calgary Law, a law firm where he is the hands-on leader of an enthusiastic team dedicated to prompt and efficient service. Follow Peter on Twitter, connect with him on LinkedIn or visit www.nwcalgarylaw.com The content contained in these blogs is intended to provide information about the subject matter and is not intended as legal advice. If you would like further information or advice on any of the subjects discussed in this blog post, please contact the author at NW Calgary Law at 403.288.0009 or probinson@nwcalgarylaw.com.


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