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   JUNE 2012 Newsletter  
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Legal Documents


Condominium Act
The Condominium Act governs condominium ownership. The act takes precedence over the condominium documents and over all agreements where a conflict arises.  The Condominium Act is partnered with both the Ontario Regulation 48  and Ontario Regulation 49

The Declaration deals with certain basic aspects of the corporation
and outlines what constitutes the division of ownership within the corporation by detailing the common elements, the units, the percentage ownership each owner has in common elements, common expense proportions and creation of exclusive use common elements. In most circumstances, the declaration cannot be changed without the consent of all owners and mortgages.

The original by-laws are usually registered by the builder and indicate how
the corporation will be organized. The by-laws deal generally with the Board of Directors and the manner in which they govern the condominium.  New Bylaws are passed by the Board of Directors and require approval by the owners at an Annual General Meeting or a meeting specifically called for this purpose. They must be registered with the local land registry office in order to become effective.

Rules & Regulations
Rules relate to the use of the common elements and units. The Board of Directors passes rules; they do not require approval of the owners. Rules become effective thirty days after notice of the rule has been given to each owner, unless during that period the Board of Directors receive a requisition, signed by the owners of at least 15% of the units, requiring a meeting of owners to consider amending said rules.

Insurance Certificate
Your building is fully ensured by Atrens-Counsel insurance Brokers Inc.  Click here for an updated copy of the insurance certificate for TSCC 1525.



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