GOVERNMENT UPDATES CONDOMINIUM LEGISLATION

Today, the government introduced a bill to update legislation governing the rights and responsibilities of developers, condominium owners, and condominium boards.

The Condominium Property Amendment Act, 2003 addresses issues raised by persons living in and managing condominiums and is expected to result in more financially stable condominium corporations and fewer disputes within these corporations.

"Legislation on condominium property is used on a daily basis by condo owners and boards. We amend this legislation every few years in response to their concerns and to be sure we are providing clear guidance," Justice Minister Eric Cline said.

The bill includes an amendment to change the way property taxes are apportioned among condominium owners. Currently, property taxes for the condominium complex are apportioned based on each owner's unit factor share of the common property. The amendment provides for a more equitable assessment approach based on the value of the unit. Also, owners will be able to appeal the assessment on their own behalf. Currently, only the condominium corporation is allowed to appeal a tax assessment.

The bill also clarifies insurance requirements, adds provisions regarding reserve funds for major repairs, addresses problems faced by condominium corporations when one or more owners do not pay their share of the common expenses, provides a process for a condominium corporation to change its legal name, and sets out rules for proxy voting by owners.

The legislation was developed in consultation with individuals and organizations with an interest in condominiums. These changes are planned to come into force on January 1st, 2005.

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For More Information, Contact:

Debi McEwen Justice Regina Phone: (306)787-6043 Email: dmcewen@justice.gov.sk.ca