New Newfoundland Strata Laws

Guess what I've found in Newfoundland, Canada?  New strata title laws!


On 1 December 2009, the Condominium Act 2011 starts operating in the Canadian province of Newfoundland and brings their strata laws in line with current developer, owner and resident needs and to accommodate for a future of high density housing.  
As the Minister, Paul Davis, said “Through feedback obtained in recent years, it was recognized that the act required modernization in order to meet the needs of all stakeholders involved including current owners, potential owners and condominium developers.”


The new laws includes many changes including -

• more information disclosure for purchasers
• establishing reserve funds for major works
• accommodates different kinds of strata developments
• mediation and arbitration for disputes
• a 10 day cooling off period for strata purchasers

The new laws and the changes follow similar trends for strata laws all around the world.  And, since the Bill was first issued in 2009 have taken about as long as other strata law changes too.

You can find the new laws here - http://assembly.nl.ca/Legislation/sr/statutes/c29-1.htm


Francesco ...


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