What is a Strata Form B and why is it necessary when buying or selling a strata lot?

A Form B – Information Certificate is a strata form that should be reviewed by anyone considering buying a strata lot. The Form B sets out information relating to the strata corporation and its financial affairs including the amount of the strata fees payable, the amounts of any outstanding or approved special levies, whether there are any new bylaws that have been recently approved, how many strata lots in the development may be rented, etc… If you will be getting a mortgage to complete your purchase, your bank will likely require a copy of the Form B.

Copyright © 2016 Montgomery Miles & Stone Law Firm. All Rights Reserved
Website Powered by Cutting Edge Concepts