Podcast
Questions and Answers
What is the role of the board of directors in a condominium corporation?
What is the role of the board of directors in a condominium corporation?
- Manage financial investments
- Enforce the Condominium Act
- Develop and enforce condominium rules and bylaws (correct)
- Handle property maintenance
What is the purpose of condominium rules?
What is the purpose of condominium rules?
- Define the owner's share of common expenses
- Document standard procedures for property maintenance
- Set boundaries for each unit
- Establish directives and regulations for the corporation (correct)
In the process of creating a condominium corporation, what is included in the declaration?
In the process of creating a condominium corporation, what is included in the declaration?
- Financial reports for the corporation
- Boundaries of each unit and common expenses share (correct)
- Property maintenance guidelines
- List of potential buyers
What do bylaws in a condominium corporation refer to?
What do bylaws in a condominium corporation refer to?
What is the process called when a declarant files a declaration and description at the Land Registry Office?
What is the process called when a declarant files a declaration and description at the Land Registry Office?
Which entity typically files a declaration and description to create a condominium corporation?
Which entity typically files a declaration and description to create a condominium corporation?
What are the common elements in a residential condominium?
What are the common elements in a residential condominium?
Which Act regulates the creation, governance, and bylaws of condominiums in Ontario?
Which Act regulates the creation, governance, and bylaws of condominiums in Ontario?
What significant change did the revisions to the Condominium Act in 2015 bring about?
What significant change did the revisions to the Condominium Act in 2015 bring about?
Who is responsible for sharing the costs of maintenance and repairs of common elements in a condominium?
Who is responsible for sharing the costs of maintenance and repairs of common elements in a condominium?
What makes up the private living space to which a condominium owner holds sole title?
What makes up the private living space to which a condominium owner holds sole title?
Which Act established the Condominium Authority of Ontario and the Condominium Management Regulatory Authority of Ontario?
Which Act established the Condominium Authority of Ontario and the Condominium Management Regulatory Authority of Ontario?
What is responsible for creating a condominium corporation in law?
What is responsible for creating a condominium corporation in law?
What does the Condominium Act define in relation to condominium corporations?
What does the Condominium Act define in relation to condominium corporations?
What is the main duty of the board of directors of a condominium corporation?
What is the main duty of the board of directors of a condominium corporation?
How does the Condominium Act outline the composition of the board of directors?
How does the Condominium Act outline the composition of the board of directors?
What is the purpose of a disclosure statement required by the Condominium Act?
What is the purpose of a disclosure statement required by the Condominium Act?
In what way does the corporation ensure unit owner compliance according to the Condominium Act?
In what way does the corporation ensure unit owner compliance according to the Condominium Act?
Flashcards are hidden until you start studying
