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Condos Not Eligible For Resale If Unsafe

Author: 
Toronto Condo News
Publication date:
May 23, 2022
Article Summary: 

The blog discusses the consequences of not complying with the Ontario Building Code and Fire Code in condos, which may result in units not being eligible for resale. According to the Ontario Condominium Act, a status certificate is required for resale, which includes information on the building's compliance with the codes. If a building is not in compliance, the status certificate may indicate that the unit is not eligible for resale, which can have serious financial consequences for both the seller and the buyer. The blog suggests that it is important for condo boards to ensure that the building is in compliance with the codes and to take action to address any violations.

Keywords: 

Ontario Building Code, Fire Code, condos, resale, status certificate, compliance, violations, condo boa

Source Citation: 
Toronto Condo News
Condos Not Eligible For Resale If Unsafe
May 23, 2022
https://tocondonews.com/archives/condos-not-eligible-for-resale-if-unsafe/
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