If you are looking at selling or buying a condominium, the following documents should be in order:

 

Condominium Document Checklist

(a) An information statement that Includes all of the following:

(i)The Particulars of 

  1. any action commenced against the corporation in respect of  which the corporation has been served, including the amount claimed against the corporation

  2. any unsatisfied judgment or order on the corporation is liable and

  3. any written demand made on the corporation for an amount in excess of $5000 that, if not met,  may result in an action being brought against the corporation

(ii) a statement setting out the amount of the capital replacement reserve fund

(iii) a statement setting out the amount of the contributions and the basis on which that amount  was determined

(iv) a statement setting out any structural deficiencies that the corporation has knowledge of at the time of the request in any of the buildings that are included on the condominium plan

(v) loan disclosure statements for current loans, including documents showing the starting  balance, current balance, interest rate, monthly payment, purpose of the loan, amortization  period and default information, if applicable

 

(b) the particulars of, or a copy of, any subsisting management agreement

( c ) the particulars of, or a copy of, any subsisting recreational agreement

(d) the particulars respecting any post tensioned cables that are located anywhere on or within the  property that is included in the condominium plan

(e) a copy of the current budget of the corporation

(f) a copy of the most recent financial statements of the corporation - (this may include the  most recent year-end and month-end statements ((balance sheets, income statements and  cash flow statements))

(g) a copy of the current bylaws of the corporation

(h) in respect to the fiscal year, a copy of:

(i) all approved minutes of all general meetings of the corporation, if available 

(ii) draft meetings of general meetings, if approved minutes are not available, for meetings that occurred at least 30 days before the date of the request, and

(iii) approved minutes of board meetings

(i) a statement setting out the unit factors and the criteria used to determine unit factor allocation

(j) a copy of any lease agreement or other exclusive possession agreement with respect to the  possession of a portion of the common property or real property of the corporation, including  a parking stall or storage unit

(k) a consolidation of the rules made by the corporation under section 32.1 of the Act

(l) the text of written ordinary and special resolutions voted on by the corporation and the results  of the voting on those resolutions, other than the results of a vote conducted by a show of  hands

(m) copies of reports prepared for the corporation by professionals, including professional  engineers but excluding reports requested and obtained by the corporation’s legal counsel in  relation to actual or contemplated litigation

(n) copies of insurance certificates held by the corporation

(o) copies of insurance policies held by the corporation

(p) the current standard insurable unit description for the residential units or classes of residential units

(q) a copy of reserve fund plans, reserve fund reports and annual reports