Amendments coming January 1, 2018
It has been a busy six weeks as those in the condo industry learned how to use the new forms, conduct owners' meetings, and apply all of the other amendments that came into force on November 1, 2017. For more information on the amendments in force now, see some of our previous blog posts: What is Changing Come November 1, 2017 The Condo Act Forms are Available! The NEW PROCESS for Owners' Meetings Common Errors with the Amendments The Condominium Authority Tribunal (CAT) In a couple of short weeks, on January 1, 2018, the second phase of amendments will come into force. The second phase does not have as many changes as the first, but there are, nonetheless, some important changes worth noting. 1. Warranties for Conversion Condos The Condominium Act, 1998 ("Condo Act") and the Ontario New Home Warranties Plan Act ("ONHWPA") will be amended to reflect the new warranty coverage for some parts of residential conversion condominiums. The amendments include:
- New definitions for "pre-existing elements", "pre-existing elements fund study", and "residential condominium conversion project".
- A new part within the ONHWPA to describe the warranties, registration and enrolment processes, and the creation of a pre-existing elements fund by the builder.
- The Condo Act will be amended to add additional disclosure obligations for developers of residential conversion condos, including information about the pre-existing elements.