Test
Back to all publications
Nov 19, 2020

New Obligation for Condominium Developers Coming Into Force on January 1, 2021

By Andrew Webster, Tammy A. Evans and Peter A. Dalglish

Upcoming changes to the Condominium Act, 1998 will come into force on January 1, 2021 that will add an additional document which must be delivered by developers to purchasers of condominium units. An electronic or paper copy of Ontario’s Residential Condominium Buyers’ Guide (Condo Guide) must be provided to all pre-construction or new condominium unit purchasers starting January 1, 2021.

This obligation is significant for developers because the 10-day rescission period will begin only after the purchaser receives the Condo Guide, the package of condominium disclosure documents and a fully executed copy of the agreement of purchase and sale.

Please note that this new requirement will apply to unit sales that take place on or after January 1, 2021 regardless of whether the unit is part of an existing project that was launched prior to this date (no grandfathering of existing projects). Sales prior to this date, whether in the rescission period or not, will not be affected.

The Aird & Berlis Real Estate Group will continue to monitor new developments in real estate law. For further information, please contact a member of our Group.

Areas of Expertise

Related Publications

Publications Article
Addressing Risk Allocation in M&A Transactions Through the Use of Transactional Insurance: A Primer on Representation and Warranty Insurance in the Canadian M&A Market By Jeffrey K. Merk, Gary Volman and Christian Nianiaris Jun 27, 2022 The natural tension between buyers and sellers in merger and acquisition transactions has led to ... The natural tension between buyers and sellers in merger and acquisition transactions has led to countless hours being spent allocating risk and consequences of various elements of that risk...
Publications Article
Bar Exam Breach: Law Society of Ontario Moves Ahead With Claim While Affected Candidates Are Left on Outside Looking In By Hannah Downard and Josh Suttner Jun 17, 2022 On May 25, 2022, following months of investigation, the Law Society of Ontario announced that it ... On May 25, 2022, following months of investigation, the Law Society of Ontario announced that it had commenced an action against Aamer Chaudhry and NCA Exam Guru for their alleged role in the breach and distribution of confidential exam m...
Publications Article
Historic NFT Insider Trading Charges in U.S. of Relevance to Canadian Operators By Russell J. Sanders, Sean Green and Ali Kwinter Jun 16, 2022 On June 1, 2022, the United States Department of Justice laid the first-ever insider trading char... On June 1, 2022, the United States Department of Justice laid the first-ever insider trading charges in relation to digital assets. The accused, Nathaniel Chastain, was arrested in Manhattan, New York, in connection with a scheme to commit insider trading of non-fungible tokens.