Changes to the Condo Property Act
If you are thinking about buying a condo, or you already own a condo, there are some changes that have been proposed to the Alberta condo property act that might be put into place soon.
These changes will come in two stages. The first stage deals with buyers of newly-built condos and properties that have been converted into condos. The second stage addresses how condo boards are governed, their voting practices and procedures, and insurance regulations.
Numerous engagement sessions were held in July and August of 2017 inviting Albertans to provide feedback on condo governance issues, and an online survey was set up after the open house engagement sessions were complete.
If you are considering buying a condo – we would suggest doing a bit of research into the proposed changes.
