Considered long overdue by many, there are changes proposed to the condominium property act in Alberta that may arrive sometime in the not too distant future. We first wrote about the proposed changes on this blog in June, 2011. The government is looking for changes and open houses have been scheduled in the coming months as follows:
  • July 25, 4 p.m. to 8 p.m. – Red Deer, Red Deer Museum and Art Gallery
  • July 26, 4 p.m. to 8 p.m – Calgary, Macdonald Hall, Heritage Hall Building, SAIT Main Campus
  • July 27, 4 p.m. to 8 p.m. – Edmonton, Lister Centre, University of Alberta
  • Aug. 1, 4:30 p.m. to 7:30 p.m. – Lethbridge, City Hall Foyer
  • Aug. 3, 4:30 p.m. to 7:30 p.m. – Fort McMurray, Clubhouse Atrium, Syncrude Athletic Park
There are more than 60 amendments to the Act proposed. Almost one-quarter of homes now sold in Alberta are condominiums. The government intends to proclaim the amendments and supporting regulations in two phases. Phase 1 focuses on new protections for buyers of newly-built and conversion condominiums, and phase 2 will address how condo boards govern themselves, including insurance requirements, voting procedures, and reserve fund plans. If you If you own a condo, or are thinking of buying a condo, learning more about the proposed changes and providing your input would be in your best interest.     Posted by Liv Real Estate on
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