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The New
Construction Act
Author:
Denise Lash, Danielle Swartz
Publication date:
Article Summary:
The article discusses the impact of the Construction Act, which came into force on July 1, 2018, on condominium corporations and their construction projects. The new legislation introduces changes to lien preservation, perfection timelines, financial thresholds for contract performance, forms of holdbacks, and the validity of liens. It outlines the key amendments that condominium corporations need to be aware of, including the expanded definition of "improvement," new notice obligations for lien preservation, changes in lien discharge procedures, extended timelines for preserving and perfecting liens, increased financial thresholds for contract performance, and new alternative forms of holdbacks. The article emphasizes the importance of being informed about changes to legislation, as they can have a significant impact on construction projects within condominium properties.
Keywords:
Construction Act, condominium corporations, lien preservation, lien discharge, construction projects, improvements, financial thresholds, holdbacks, legislation changes, Condominium Act.
Source Citation:
Denise Lash, Danielle Swartz
The New
Construction Act
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