Strata Alert: Strata Property Act amendments concerning strata terminations now in force
Paul G. Mendes, Partner
Phone: 604-685-4894
Email: pgm@lmlaw.ca
Amendments to the Strata Property Act permitting owners to voluntarily terminate a strata corporation are now in force. Under the new procedure, strata owners can terminate their strata corporation by an 80 percent vote of all eligible voters instead of the previous unanimous vote requirement. The procedural changes include getting a BC Supreme Court order confirming the winding up a resolution, which will be required in most cases.
These changes are being widely touted as “benefiting” owners, although how owners will benefit from these changes are not well understood. Older strata remain an important part of the provinces’ stock of affordable housing. One group that will clearly benefit from this change are the developers that are presently eying older strata for redevelopment.
To read the official government news release, click here: https://news.gov.bc.ca/releases/2016MNGD0044-001375.
WHAT WE DO: Lesperance Mendes has been advising and representing owners and strata corporations concerning legal remedies related to the repair and maintenance of condo buildings in British Columbia since 1997. If your strata corporation is struggling to get a substantial repair levy approved, or if your strata are looking at termination as an option, call Paul G. Mendes, partner, at 604-685-4894 or email him at pgm@lmlaw.ca.
Lesperance Mendes Lawyers
900 Howe St #550, Vancouver, BC V6Z 2M4
(604) 685-3567