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Why The Declaration Is Difficult To Modify
Author:
Toronto Condo News
Publication date:
November 22, 2022
Article Summary:
In summary, the Declaration of a condominium corporation is a legal document that outlines the terms under which each unit was purchased. Changing it requires the support of at least 80% of owners, making it difficult to modify. The high burden required for modification is justified as changes can alter the relationship between owners, the corporation, and the local municipality. Owners who benefit from specific restrictions, such as no smoking or no pets, are unlikely to support changes. As a result, updating condo rules may be a more effective method of achieving specific outcomes without requiring the same level of support.
Keywords:
Declaration, condominium corporation, legal document, terms, modification, support, owners, supermajority, restrictions, update, condo rules.
Source Citation:
Toronto Condo News
Why The Declaration Is Difficult To Modify
November 22, 2022
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