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The Condominium Amendment Act

This is an unofficial version.
If you need an official copy, contact Statutory Publications.

S.M. 2005, c. 29

Bill 31, 3rd Session, 38th Legislature

The Condominium Amendment Act

(Assented to June 16, 2005)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. C170 amended

1           The Condominium Act is amended by this Act.

2(1)        Subsection 8(1) is replaced with the following:

Cooling-off period

8(1)        A prospective purchaser who has signed an agreement to purchase a unit may cancel the agreement, in the manner provided for in subsection (1.0.1), within 48 hours after

(a) a legally binding agreement to purchase is formed between the vendor and purchaser; or

(b) the purchaser receives the information required to be given under subsection (1.1);

whichever is later.

Giving notice of cancellation

8(1.0.1)    The prospective purchaser may cancel the agreement by

(a) personally giving a written notice of the cancellation to the vendor or the vendor's agent; or

(b) sending a written notice of the cancellation by registered mail, fax or any other method, except e-mail, that provides proof that it was sent, to the address or fax number given by the vendor or the vendor's agent for this purpose.

No transfer until end of cooling-off period

8(1.0.2)    No person shall present a transfer of land for a unit for registration under The Real Property Act until the cooling-off period under subsection (1) has expired.

Declaration from purchaser

8(1.0.3)    No district registrar shall accept for registration a transfer of land for a unit unless it is accompanied by a statutory declaration from the purchaser stating that

(a) the information required to be given under subsection (1.1) has been given; and

(b) the cooling-off period under subsection (1) has expired.

2(2)        Subsection 8(1.1) is amended

(a) by replacing the part before clause (a) with the following:

8(1.1) The following information shall be given to a prospective purchaser under clause (1)(b):

(b) in clause (a), by replacing the part before subclause (i) with the following:

(a) the most recent financial statements of the corporation, as approved by the board, and the budget for the current financial year, including any amendments, setting out

(c) by adding the following after clause (a):

(a.1) a copy of the by-laws and rules of the corporation, including any amendments;

(a.2) any current management agreement, including any amendments, or a proposed management agreement;

(d) in clause (c), in the part before subclause (i), by striking out "dated within 90 days before the execution of the agreement" and substituting "made no earlier than 90 days before the purchaser receives the statement".

(e) in subclause (c)(viii), by adding "plan," after "declaration,"; and

(f) in subclause (c)(ix), by striking out everything after "service".

2(3)        The following is added after subsection 8(1.3):

Reserve fund study

8(1.4)      Where the statement required under clause (1.1)(c) states that a reserve fund study has been done, the corporation shall provide a copy of the most recent study to a prospective purchaser upon request.

3           The following is added after subsection 11(4):

Delivery of construction documents

11(5)       Upon the election of a new board of directors under subsection (4), the developer or the previous board of directors shall deliver to the new board a copy of the following construction documents, including any amendments to those documents, that are in the possession or under the control of the developer or the previous board:

(a) documents used to construct a new building, to convert or renovate an existing building or to construct, install or provide utilities, services or other amenities on the land;

(b) if an existing building is being converted or renovated, any available documents used to construct the building, to renovate the building at a previous time, or to construct, install or provide utilities, services or other amenities on the land.

4           Subsection 33(3) is replaced with the following:

Purchase price includes reserve fund account

33(3)       Upon the sale or transfer of a unit, the purchase price for the unit is deemed to include the balance shown in the reserve fund account in respect of that unit, as at the date of adjustments of the transaction, unless the agreement respecting the purchase or transfer of the unit provides that the transferee shall make an additional payment to the owner respecting that balance.

5            Clause 34(b) is amended

(a) in the English version, by striking out ", if any, that a purchaser is required to receive under clause 8(1.1)(i)" and substituting "of the board of directors of the corporation"; and

(b) in the French version, by striking out "compndre" and substituting "comprendre".

Coming into force

6(1)        Subject to subsection (2), this Act comes into force on the day it receives royal assent.

Coming into force:  subsections 2(1) and (2) and section 4

6(2)         Subsections 2(1) and (2) and section 4 come into force on a day to be fixed by proclamation.