Ontario
Condominium Act

Disclosure statement

Sec. 72
(1) The declarant shall deliver to every person who purchases a unit or a proposed unit from the declarant a copy of the current disclosure statement made by the declarant for the corporation of which the unit or proposed unit forms part. 1998, c. 19, s. 72 (1).

Purchaser not bound

(2) An agreement of purchase and sale of a unit or a proposed unit entered into by a declarant is not binding on the purchaser until the declarant has delivered to the purchaser a copy of the current disclosure statement. 1998, c. 19, s. 72 (2).

Contents

(3) A disclosure statement shall specify the date on which it is made and shall contain,

(a) a table of contents prepared in accordance with subsection (4) and located at the beginning of the disclosure statement;

(b) a statement indicating,

(i) whether the corporation is a freehold condominium corporation or a leasehold condominium corporation, and

(ii) if the corporation is a freehold condominium corporation, the type of freehold condominium corporation that it is;

(c) a statement of the name and municipal address of the declarant and the mailing address of the property or the proposed property and its municipal address if available;

(d) a general description of the property or proposed property including the types and number of buildings, units and recreational and other amenities together with all conditions that apply to the provision of amenities;

(e) if the declarant has made an application for approval described in subsection 9 (4), a summary of the reports, if any, that the approval authority has required be made under subsection 9 (4) and the agreements, if any, that the approval authority has imposed under subsection 9 (5) as a condition of approval;

(f) a statement indicating whether the property or part of the property is or may be subject to the Ontario New Home Warranties Plan Act or whether the declarant has enrolled or intends to enrol the proposed units and common elements in the Plan within the meaning of that Act in accordance with the regulations made under that Act;

(g) a statement whether a building on the property or a unit or a proposed unit has been converted from a previous use;

(h) a statement whether one or more units or proposed units may be used for commercial or other purposes not ancillary to residential purposes;

(i) a statement of the portion of units or proposed units which the declarant intends to market in blocks of units to investors;

(j) a statement of the portion of units or proposed units, to the nearest anticipated 25 per cent, that the declarant intends to lease;

(k) if construction of amenities is not completed, a schedule of the proposed commencement and completion dates;

(l) a list of the amenities that the declarant proposes to provide to the purchaser during a period of interim occupancy of a proposed unit under section 80;

(m) a copy of the existing or proposed declaration, by-laws, rules and insurance trust agreement, if any;

(n) a brief description of the significant features of all agreements or proposed agreements mentioned in section 111, 112, 113 or 114 and of all agreements or proposed agreements between the corporation and another corporation;

(o) a statement of whether, to the knowledge of the declarant, the corporation intends to amalgamate with another corporation or whether the declarant intends to cause the corporation to amalgamate with another corporation within 60 days of the date of registration of the declaration and description for the corporation;

(p) if an amalgamation is intended under clause (o), a copy of the proposed declaration, description, by-laws and rules for the amalgamated corporation, if available;

(q) a copy of the budget statement described in subsection (6);

(r) a copy of the budget of the corporation for the current fiscal year if more than one year has passed since the registration of the declaration and description for the corporation;

(s) a statement setting out the fees or charges, if any, that the corporation is required to pay to the declarant or another person; and

(t) all other material that the regulations made under this Act require. 1998, c. 19, s. 72 (3); 2001, c. 9, Sched. D, s. 3 (1).

Table of contents

(4) The table of contents in the disclosure statement shall be in the prescribed form, shall indicate whether the declaration, by-laws, rules or the proposed declaration, by-laws or rules of the corporation or any other material in the disclosure statement deal with the following matters and, if so, shall indicate where the matters are dealt with:

1. A statement indicating,

i. whether the corporation is a leasehold condominium corporation or a freehold condominium corporation, and

ii. if the corporation is a freehold condominium corporation, the type of freehold condominium corporation that it is.

2. The property or part of the property is or may be subject to the Ontario New Home Warranties Plan Act or the proposed units and common elements are enrolled or are intended to be enrolled in the Plan within the meaning of that Act in accordance with the regulations made under that Act.

3. A building on the property or a unit or a proposed unit has been converted from a previous use.

4. One or more units or proposed units may be used for commercial or other purposes not ancillary to residential purposes.

5. A provision exists with respect to pets on the property or the proposed property.

6. There exist restrictions or standards with respect to the occupancy or use of units or proposed units or the use of common elements or proposed common elements that are based on the nature or design of the facilities and services on the property or on other aspects of the buildings located on the property.

7. A statement of the portion of units or proposed units, to the nearest anticipated 25 per cent, that the declarant intends to lease.

8. A statement whether the proportion, expressed in percentages, of the common interest appurtenant to any unit or proposed unit differs in an amount of 10 per cent or more from that appurtenant to any other unit or proposed unit of the same type, size and design.

9. A statement whether the proportion, expressed in percentages, in which the owner of any unit or proposed unit is required to contribute to the common expenses differs in an amount of 10 per cent or more from that required of the owner of any other unit or proposed unit of the same type, size and design.

10. A statement whether any unit or proposed unit is exempt from a cost attributable to the rest of the units or proposed units.

11. Part or the whole of the common elements or the proposed common elements are subject to a lease or licence.

12. A statement whether parking is allowed in or on a unit, on the common elements or on a part of the common elements of which an owner has exclusive use and a statement of the restrictions on parking.

13. Any other statement specified in the regulations made under this Act. 1998, c. 19, s. 72 (4).

Rescission of agreement

73. (1) A purchaser who receives a disclosure statement under subsection 72 (1) may, in accordance with this section, rescind the agreement of purchase and sale before accepting a deed to the unit being purchased that is in registerable form. 1998, c. 19, s. 73 (1).

Notice of rescission

(2) To rescind an agreement of purchase and sale under this section, a purchaser or the purchaser's solicitor shall give a written notice of rescission to the declarant or to the declarant's solicitor who must receive the notice within 10 days of the later of,

(a) the date that the purchaser receives the disclosure statement; and

(b) the date that the purchaser receives a copy of the agreement of purchase and sale executed by the declarant and the purchaser. 1998, c. 19, s. 73 (2).

Refund upon rescission

(3) If a declarant or the declarant's solicitor receives a notice of rescission from a purchaser under this section, the declarant shall promptly refund, without penalty or charge, to the purchaser, all money received from the purchaser under the agreement and credited towards the purchase price, together with interest on the money calculated at the prescribed rate from the date that the declarant received the money until the date the declarant refunds it. 1998, c. 19, s. 73 (3).

Alberta
Condominium Property Act

Sec. 12
(1) A developer shall not sell or agree to sell a unit or a proposed unit unless the developer has delivered to the purchaser a copy of

(a) the purchase agreement,

(b) the bylaws or proposed bylaws,

(c) any management agreement or proposed management agreement,

(d) any recreational agreement or proposed recreational agreement,

(e) the lease of the parcel, if the parcel on which the unit is located is held under a lease and the certificate of title to the unit or proposed unit has been or will be issued under section 5(1)(b),

(f) any mortgage that affects or proposed mortgage that will affect the title to the unit or proposed unit or, in respect of that mortgage or proposed mortgage, a notice prescribed under subsection (2), and (g) the condominium plan or proposed condominium plan.

(2) A developer may deliver to the purchaser in respect of a mortgage or proposed mortgage a written notice stating

(a) the maximum principal amount available under the mortgage,

(b) the maximum monthly payment that may be paid under the mortgage,

(c) the amortization period,

(d) the term,

(e) the interest rate or the formula, if any, for determining the interest rate, and

(f) the prepayment privileges, if any.

(3) Subject to subsection (4), a purchaser who purchases a residential unit pursuant to this section may, by providing written notice to the developer and without incurring any liability for doing so, rescind the purchase agreement within 10 days from the date the purchase agreement was executed by the parties to it.

(4) A purchaser may not rescind the purchase agreement under subsection (3) if all the documents required to be delivered to the

purchaser under subsection (1) have been delivered to the purchaser not less than 10 days prior to the execution of the purchase agreement by the parties to it.

(5) If a purchase agreement is rescinded under subsection (3), the developer shall, within 10 days from the developer's receipt of a written notice by the purchaser of the rescission, return to the purchaser all of the money paid in respect of the purchase of the residential unit.

(6) A developer shall provide to a purchaser of a unit prior to or at the time that the purchaser takes possession of the unit or proposed unit an occupancy permit or permission in writing to occupy the

unit or proposed unit that is issued or given pursuant to the regulations under the Safety Codes Act.

RSA 1980 cC-22 s9;1996 c12 s8

Rescission of purchase agreement

Sec. 13
Every developer who enters into a purchase agreement shall include in the purchase agreement the following:

(a) a notification that is at least as prominent as the rest of the contents of the purchase agreement and that is printed on the outside front cover or on the first page of the purchase agreement in bold face, in upper case and in larger print than the rest of the purchase agreement stating as follows:

"The purchaser may, without incurring any liability for doing so, rescind this agreement within 10 days after its execution by the parties to it unless all of the documents required to be delivered to the purchaser under section 12 of the Condominium Property Act have been delivered to the purchaser not less than 10 days prior to the execution of this agreement by the parties to it.";

(b) where the units and the common property are not substantially completed at the time that the purchase agreement is entered into, a description, drawing or photograph showing

(i) where there is a building, the interior finishing of and all major improvements to the common property located within a building,

(ii) all major improvements to the common property, other than those to which subclause (i) applies,

(iii) any significant utility installations, major easement areas, retaining walls and other similar significant features,

(iv) the recreational facilities, equipment and other amenities to be used by the persons residing in or on the residential units,

(v) the equipment to be used for the maintenance of the common property,

(vi) the location of roadways, walkways, fences, parking areas and recreational facilities,

(vii) the landscaping, and

(viii) where there is a building, the exterior finishing of the building, as they will exist when the developer has fulfilled the developer's obligations under the purchase agreement;

(c) the amount or estimated  amount of the monthly unit contributions that has been determined on a reasonable economic basis in respect of the unit;

(d) the unit factor of the unit and the basis of unit factor apportionment for all units comprised in the condominium plan.

British Columbia
Real Estate Act

Disclosure statement instead of prospectus

66 (1
Despite sections 61 to 64, the superintendent may permit a person to submit a disclosure statement to the superintendent instead of a prospectus and, on submission of the duly completed statement, the superintendent must, despite section 73 (1), accept it for filing.

(2) A disclosure statement permitted under this section is deemed to be a prospectus for the purposes of this Part, but sections 67, 70 and 71 do not apply to the disclosure statement or to an amendment to it.

(3) A disclosure statement permitted under this section must

(a) despite section 55 (2) (p), be in the form and include the contents required by the superintendent,

(b) be dated and signed by every person who, at the time of the filing of the statement, is a developer or a director of a corporate developer of the subdivided land, shared interests in land or time share interests referred to in it and by any other person required by the superintendent,

(c) contain full, true and plain disclosure of the matters in the required contents referred to in paragraph (a), and

(d) have printed or stamped in conspicuous type on its outside front cover the following words:

"Neither the Superintendent of Real Estate nor any other authority of the government of British Columbia has in any way passed on the merits of the matters dealt with in this disclosure statement. This disclosure statement has been filed with the Superintendent of Real Estate but the superintendent has not determined whether or not it complies with Part 2 of the Real Estate Act."

Form of prospectus
67 (1) Every prospectus to which section 61 or 62 relates must be a statement in writing dated and signed by every person who is at the time of the filing of the prospectus a developer or a director of a corporate developer of the subdivided land, shared interests in land or time share interests referred to in it and by any other person required by the superintendent.

(2) A prospectus to which section 61 or 62 relates must contain a full, true and plain disclosure relating to the real estate, time share interests, strata lots or cooperative units proposed to be sold or leased or to the shared interests in land proposed to be sold, including particulars prescribed by the superintendent for each category.

(3) The Lieutenant Governor in Council, on conditions the Lieutenant Governor in Council prescribes, may provide for the exemption from the provisions of this Part 

(a) of subdivisions for or in connection with industrial development, or 

(b) of the sale or offering for sale of shared interests in land for or in connection with industrial development.

(4) There must be printed or stamped in conspicuous type on the face of every prospectus required to be delivered under this Act the following words:

"Neither the Superintendent of Real Estate nor any other authority of the government of British Columbia has in any way passed on the merits of the matters dealt with in this prospectus.",

and any representation to the contrary is an offence under this Act.

(5) Despite section 55 (2) (p), the superintendent may prescribe the form and content of prospectuses required by Part 2.

Signature of prospectus
68 (1) Any director may sign the prospectus by his or her agent.

(2) Despite sections 66 (3) and 67 (1), the superintendent, on any conditions the superintendent considers necessary, may dispense with the requirement for a director of a corporate developer to sign a prospectus.

Documents to accompany prospectus

69 (1) Every prospectus submitted to the superintendent under section 61 relating to land described in a subdivision plan referred to in section 61 (1) must be accompanied by all of the following:

(a) a certificate of a solicitor verifying the contents of parts of the prospectus prescribed by the superintendent, except those parts that are proposals;

(b) an affidavit of every developer or of a director of each corporate developer declaring

(i) that every matter of fact stated in the prospectus is correct, and

(ii) that a true copy of it will be delivered to the prospective purchaser or lessee;

(c) a true copy of any plan prescribed by the superintendent;

(d) a true copy of any form of contract prescribed by the superintendent;

(e) documents the superintendent requires to support any statement of fact, proposal or estimate set out in the prospectus.

(2) Every prospectus submitted to the superintendent under section 61 relating to subdivided land comprised in a strata plan must be accompanied by all of the following:

(a) a certificate of a solicitor verifying the contents of parts of the prospectus prescribed by the superintendent, except those parts that are proposals;

(b) an affidavit of every developer or of a director of each corporate developer declaring

(i) that every matter of fact stated in the prospectus is correct; and

(ii) that a true copy of it will be delivered to the prospective purchaser or lessee;

(c) a copy of any management agreement prescribed by the superintendent;

(d) documents the superintendent requires to support any statement of fact, proposal, or estimate set out in the prospectus.

(3) Every prospectus submitted to the superintendent under section 61 relating to subdivided land comprised of cooperative units must be accompanied by all of the following:

(a) a certificate of a solicitor verifying the contents of parts of the prospectus prescribed by the superintendent, except those parts that are proposals;

(b) an affidavit of every developer or of a director of each corporate developer declaring

(i) that every matter of fact stated in the prospectus is correct, and

(ii) that a true copy of it will be delivered to the prospective purchaser or lessee;

(c) a copy of any management agreement prescribed by the superintendent;

(d) documents the superintendent requires to support any statement of fact, proposal or estimate set out in the prospectus.

Rescission

78(2) A person who has entered into a contract in British Columbia

(a) to purchase or lease a time share interest, located in or outside British Columbia,

(b) to purchase or lease subdivided land located in British Columbia, or

(c) to purchase a shared interest in land located in or outside British Columbia

and who continues to be beneficially entitled to an interest in the subdivided land, the shared interest in land or the time share interest, may rescind the contract by serving written notice of rescission on the developer or the developer's agent, in the case of a contract relating to a shared interest in land or a time share interest within 7 days after, and in the case of a contract relating to subdivided land within 3 days after, whichever date is the later,

(d) the date the contract was entered into, or

(e) the date the person received a copy of the prospectus required under this Part in respect of that subdivided land, shared interest in land or time share interest.

Ontario
Condominium Act

Status certificate

76. (1) The corporation shall give to each person who so requests a status certificate with respect to a unit in the corporation, in the prescribed form, that specifies the date on which it was made and that contains,

(a) a statement of the common expenses for the unit and the default, if any, in payment of the common expenses;

(b) a statement of the increase, if any, in the common expenses for the unit that the board has declared since the date of the budget of the corporation for the current fiscal year and the reason for the increase;

(c) a statement of the assessments, if any, that the board has levied against the unit since the date of the budget of the corporation for the current fiscal year to increase the contribution to the reserve fund and the reason for the assessments;

(d) a statement of the address for service of the corporation;

(e) a statement of the names and address for service of the directors and officers of the corporation;

(f) a copy of the current declaration, by-laws and rules;

(g) a copy of all applications made under section 109 to amend the declaration for which the court has not made an order;

(h) a statement of all outstanding judgments against the corporation and the status of all legal actions to which the corporation is a party;

(i) a copy of the budget of the corporation for the current fiscal year, the last annual audited financial statements and the auditor's report on the statements;

(j) a list of all current agreements mentioned in section 111, 112 or 113 and all current agreements between the corporation and another corporation or between the corporation and the owner of the unit;

(k) a statement that the person requesting the status certificate has the rights described in subsections (7) and (8) with respect to the agreements mentioned in clause (j);

(l) a statement whether the parties have complied with all current agreements mentioned in clause 98 (1) (b) with respect to the unit;

(m) a statement with respect to,

(i) the most recent reserve fund study and updates to it,

(ii) the amount in the reserve fund no earlier than at the end of a month within 90 days of the date of the status certificate, and

(iii) current plans, if any, to increase the reserve fund under subsection 94 (8);

(n) a statement of those additions, alterations or improvements to the common elements, those changes in the assets of the corporation and those changes in a service of the corporation that are substantial and that the board has proposed but has not implemented, together with a statement of the purpose of them;

(o) a statement of the number of units for which the corporation has received notice under section 83 that the unit was leased during the fiscal year preceding the date of the status certificate;

(p) a certificate or memorandum of insurance for each of the current insurance policies;

(q) a statement of the amounts, if any, that this Act requires be added to the common expenses payable for the unit;

(r) a statement whether the Superior Court of Justice has made an order appointing an inspector under section 130 or an administrator under section 131;

(s) all other material that the regulations made under this Act require. 1998, c. 19, s. 76 (1); 2000, c. 26, Sched. B, s. 7 (5).

Alberta
Condominium Property Act

On the written request of an owner, purchaser or mortgagee of a unit the corporation shall, within 10 days after receiving that request, provide to the person making the request one or more of the following as requested by that person:

(a)  a statement setting out the amount of any contributions due and payable in respect of a unit;

(b)  the particulars of

(i)  any action commenced against the corporation and served on the corporation,

(ii)  any unsatisfied judgment or order for which the corporation is liable, and

(iii)  any written demand made on the corporation for an amount in excess of $5000 that, if not met, may result in an action being brought against the corporation;

(c)  the particulars of or a copy of any subsisting management agreement;

(d)  the particulars of or a copy of any subsisting recreational agreement;

(e)  the particulars of any post tensioned cables that are located anywhere on or within the property that is included in the condominium plan;

(f)  a copy of the budget of the corporation;

(g) a copy of the most recent financial statements, if any, of the corporation;

(h)  a copy of the bylaws of the corporation;

(i)  a copy of any minutes of proceedings of a general meeting of the corporation or of the board;

(j)  a statement setting out the amount of the capital replacement reserve fund;

(k)  a statement setting out the amount of the monthly contributions and the basis on which that amount was determined;

(l) a statement setting out the unit factors and the criteria used to determine unit factor allocation;

(m) a statement setting out any structural deficiencies that the corporation has knowledge of at the time of the request in any of the buildings that are included in the condominium plan;

(n) a copy of any lease agreement or exclusive use agreement with respect to the possession of a portion of the common property, including a parking stall or storage unit.

RSA 1980 cC-22 s36;1996 c12 s36

British Columbia
Strata Property Act

Information Certificate

59
(1) Within one week of a request by an owner, a purchaser or a person authorized by an owner or purchaser, the strata corporation must give to the person making the request an Information Certificate in the prescribed form.

(2) The certificate must contain the information required by subsection (3), as of the date of the certificate.

(3) The certificate must disclose all of the following in respect of the strata corporation and the strata lot for which the request is made:

(a) the monthly strata fees payable by the owner;

(b) any amount that the owner owes the strata corporation, other than an amount paid into court or to the strata corporation in trust under section 114;

(c) any agreements under which the owner takes responsibility for expenses relating to alterations to a strata lot, the common property or the common assets;

(d) any amount that the owner is obligated to pay in the future for a special levy that has already been approved and the date by which the payment is to be made;

(e) any amount by which the expenses of the strata corporation for the current fiscal year are expected to exceed the expenses budgeted for the fiscal year;

(f) the amount in the contingency reserve fund minus any expenditures which have already been approved but not yet taken from the fund;

(g) any amendments to the bylaws that are not yet filed in the land title office;

(h) any resolution passed by a 3/4 vote or unanimous vote that is required to be filed in the land title office but that has not yet been filed in the land title office;

(i) any notice that has been given for a resolution that has not been voted on, if the resolution requires a 3/4 vote or unanimous vote or deals with an amendment to the bylaws;

(j) any court proceeding or arbitration in which the strata corporation is a party and any judgments or orders against the strata corporation;

(k) any notices or work orders received by the strata corporation that remain outstanding for the strata lot, the common property or the common assets;

(l) the number of strata lots in the strata plan that are rented;

(m) any other information required by the regulations.

(4) Copies of all of the following must be attached to the certificate:

(a) the rules of the strata corporation;

(b) the current budget of the strata corporation;

(c) the owner developer's Rental Disclosure Statement under section 139, if any.

(5) The information in subsection (3) disclosed in a certificate is binding on the strata corporation in its dealings with a person who relied on the certificate and acted reasonably in doing so.

(6) On application by the strata corporation, by an owner or by a person who is affected by a certificate, the Supreme Court may make any order it considers just in the circumstances to give effect to or relieve the strata corporation from some or all of the consequences of an inaccurate certificate.

(7) The strata corporation may charge, to the person requesting the certificate, a fee for the certificate of not more than the amount set out in the regulations and may refuse to issue the certificate until the fee is paid.