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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:
1 The Condominium Act is amended by this Act.
2(1) Subsection 8(1) is replaced with the following:
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.
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.
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.
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
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
2(3) The following is added after subsection 8(1.3):
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):
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:
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".
6(1) Subject to subsection (2), this Act comes into force on the day it receives royal assent.
6(2) Subsections 2(1) and (2) and section 4 come into force on a day to be fixed by proclamation.