Answer: The short answer is: Yes! The process for terminating the condominium status is broadly governed by sections 60 to 64 of the Condominium Property Act, plus sections 73.01 to 73.03 of the Condominium Property Regulation.
Can a condo corporation be dissolved?
When the condominium corporation is dissolved, the owners of the units are entitled to the parcel as tenants in common, in shares proportionate to the unit factors of their units. Common property is divided among owners based on their varying unit factors.
How do you remove a condo board in Alberta?
A corporation can remove a board member by ordinary resolution and appoint another person in that member’s place for the remainder of the term. Check your registered bylaws for further guidance or restrictions. For example, some bylaws will allow condo board members to be re-elected and serve consecutive terms.
What rights do condo owners have in Alberta?
Condominium ownership has a legal title to the condominium unit (freehold ownership) so you are responsible for maintaining/repairing everything inside the unit. You are also a joint owner of the condo’s common property, along with the other condo owners, to pay for the costs of the building upkeep.
Can you sue a condo board in Alberta?
The corporation and individual board members can be sued in Court for engaging in improper conduct. This project was made possible through a grant from the Alberta Real Estate Foundation. Board members must exercise care, diligence and skill that a reasonable person would do in similar circumstances.
Is it hard to dissolve a corporation?
There’s more to dissolving a corporation than simply ceasing operations. You must formally complete the process by resolving business and financial affairs and filing articles of dissolution and tax documentation. Failing to do so may lead to penalties and liabilities.
How cooperative society can be dissolved?
– A cooperative may be dissolved by order of a competent court after due hearing on the grounds of: (1) Violation of any law, regulation or provisions of its by-laws; or (2) Insolvency.
How do you deal with a difficult condo board?
If you’re experiencing an issue with board members who seem aggressive, indifferent or generally difficult to work with, you should calmly and clearly state your problem or proposal to the board without hostility. Put your request in writing, making copies for each member of the board, to present at the next meeting.
Who governs condo boards in Alberta?
Starting December 1, 2021, all individuals and companies that provide condominium management services in Alberta must be licensed by the Real Estate Council of Alberta (RECA).
Can a condo board impose fines in Alberta?
Article content. In Alberta, the bylaws of a condominium corporation must specifically provide that it has the legal power to impose fines against owners.
Can a condo owner be forced to sell in Alberta?
“Yes, it is your home; however, you’re part of a community.” While condo boards don’t have the legal authority to evict owners and force them to sell their units, they can ask the courts to intervene in extraordinary circumstances where the behaviour of one person is affecting the entire condo community.
How do I complain about condo management in Alberta?
Disputes with a Condo board or property manager
- 1) Speak to a member of your condo board or property management company about your concerns. See if you can reach a mutually agreeable resolution to the issue.
- 2) Write a letter to your condo board.
- 3) Consider your dispute resolution options.
Can a condo board evict an owner Alberta?
In Alberta, the courts have made it clear that if a condominium corporation takes legal steps against an owner, the condominium corporation must follow an incremental approach to the matter, and any remedy should be proportional to the circumstances. The offending owner is entitled to due process.
Can owners attend condo board meetings in Alberta?
Allow unit owners to attend and observe board meetings. Consult with owners at the annual general meeting (AGM) and encourage them to communicate with each other. Provide an information package to new owners. In preparation for AGM’s, communicate the meeting details (time and place) to owners.
Does the Condo Act of Alberta have basic by laws?
Every condominium must have a set of bylaws and to enforce them. Bylaws apply to all owners in a condominium, as well as anyone renting or visiting the condominium.
Who is responsible for water damage in a condo Alberta?
In all Alberta condominiums, the condominium must provide insurance coverage over common elements and all units, including the accidental escape of water.
Which organization is easiest to dissolve?
Sole Proprietorship
Advantages of a Sole Proprietorship
The business is easy to dissolve, if desired.
Does it cost money to dissolve company?
The costs involved in closing a limited company vary depending on the way the company is closed. Of course, however you close the company, you will also need to pay any outstanding debts and wages. To strike off a solvent company is typically the most affordable option, with a fee being paid to Companies House.
How do I dissolve a corporation in Alberta?
Alberta corporation
- Vote to dissolve the corporation. You and other shareholders or directors can vote if your corporation has stopped doing business and doesn’t have any debts.
- Sell all property and pay all debts.
- Fill out the form.
- Other forms related to dissolution.
- Submit your forms.
What are the several ways to dissolve society?
A society can be dissolved by a) its members b) the Registrar c) the Court or d) the Government. Below is the procedure for dissolution. A special body meeting has to be called upon where it has to be decided if the society intends to dissolve forthwith or at a later time agreed upon by the members.
What happens when a society is dissolved?
Once the society is dissolved, its activities come to a standstill. If there is any surplus of funds after the settlement of all claims and pending dues, they are not allowed to be distributed among the members. The law explicitly states that any surplus must be handed over to some other society, divided by the votes.