A certificate issued by a condominium corporation setting out the details about eh corporation to a prospective buyer or another interested party.A status certificate when relating to a specific unit/suite must be provided within 10 days by the corporation to anyone who requests the document.The fee for the certificate and all accompanying documentation is $100.00.
The status certificate contains; a statement of common expenses (common fee) and any arrears on the unit.
An increase in common expenses, along with an explanation for the increase
Reserve fund study, any special assessments; any plans to increase the reserve fund.
Names and address for service and the director’s names and address of service.
By-laws and rules of the condominium.
Amendments, Outstanding judgments, status of all legal actions.
Current budget and the most recent audited statement, including a report.
