Category:
Educational Materials/Courses
Save this article >
Can Your Condo Opt-Out of the Act?
Author:
Michelle Kelly
Publication date:
May 11, 2020
Article Summary:
The Condominium Act, 1998 applies despite any agreement to the contrary, which means that a condominium cannot contract out of the Act. However, there are parts of the Act that a condominium can override by making changes to its declaration, by-laws or rules. In some cases, a condominium can opt-out of certain requirements if certain conditions are met. For example, the regulations permit condominiums to opt-out of information certificate requirements if certain conditions are met. Additionally, the Act requires all condominiums to appoint an auditor and have an audit performed every fiscal year, but some condominiums may be able to dispense with the audit requirement each year if owners agree.
Keywords:
Condominium Act, declaration, by-laws, rules, opt-out, requirements, regulations, audit, information certificates, record requests.
Source Citation:
Michelle Kelly
Can Your Condo Opt-Out of the Act?
May 11, 2020
Did you find this article useful?
Your feedback is important not only to us, but to all the other key players in the condo industry. Help us by letting us know if this article is relevant and useful. This will help us prioritize articles that provide helpful guidance to other key players like you.
Please login to use this feature.