Description

Condominiums have existed since time immemorial. In fact, the concept of a condominium has accompanied many urban civilizations, with a sophisticated legal code existing in ancient Roma. In Ontario, a condominium is a legal system combining the private and communal ownership of property. Condominiums, with narrow exceptions, are the combination of units and common elements. Units are owned separately in fee simple, with a traditional deed. The rights of alienation and encumbrance are granted to the owner. Although condominium units in Ontario have traditionally been used for residential purposes, commercial and industrial units also exist.

In Ontario the property of a condominium is governed by a set of regulations enclosed under the Ontario Condominium Act. This legislation has endured several changes over the years, Therefore, if you’re involved in the buying, leasing or selling of a condominium, you must have the knowledge and up-to-date information about these complex condominium property rules.

This course provides participants significant awareness of legal principles, giving them the confidence to make well-informed decisions related to condominium property. The practical and informative approach of the course, will take attendees through relevant and useful case studies, and their concerns will be addressed by a condominium property legal expert.

PROGRAM OBJECTIVES

Upon completion of this course, participants will have a sound understanding about:

• What is a condominium – A unique form of ownership
• Different types of condominiums
• The “Condo Owners Association” and its advocacy for condominium owners and buyers
• The “Protecting Condominium Owners Act”, 2015
• The function of a board of directors
• The Ontario Condominium Act, 1998 and the latest legislation developments
• The rights and responsibilities resulting from owning a condominium
• The three laws that protect condo owners when buying and living in a condo
• What is Bill 38 and the changes introduced to Ontario’s condominium legislation

LEARNING OUTCOMES:

By the end of this course, participants should be able to:

• Understand the key principles included in the Ontario Condominium Act
• Be aware about the different types of condo fees
• Be aware of the rights and responsibilities inherent to owning a condominium
• Identify the legal considerations for condominium buying, selling and leasing
• Identify the rights and obligations that can result from a contract that goes wrong
• Sharpen their condominium sale & purchase agreements expertise
• Understand legal updates relevant to condominium property
• Understand the ”Deposit Protection” rules set under the Ontario New Home Warranties Plan Act (NHWPA)
• Understand the NHWPA “Warranty Program” that protects owners against many building defects
• Understand the NHWPA directions provided to resolve disputes with condominium vendors

WHO SHOULD ATTEND

Individuals who work or want to work in condominium administration, persons who are interested in purchasing, leasing or selling a condominium; and, anyone who wants to learn more about this unique form of ownership, including:

Condominium Sellers
Construction Managers
Contract Managers
Contractors
Members of a Condominium Board of Directors
Potential Condominium Buyers
Property Managers
Site Managers