This is a document that
contains information regarding the operational, legal and
financial dimensions of the condominium corporation. The
information contained within this document is vital from
a buyer's perspective.
Information contained in the Status Certificate
includes the following but is not limited to:
address for service of the corporation, its' directors/officers
and their names
statement of common expenses including any unit in default
amount payable for common expenses for the proposed
unit purchase
particulars of any increase in common expenses and reasons
why
statement concerning any assessments relating to the
reserve fund since the date of the current budget for
the current year, and any plans to increase information
concerning any amendments to the declaration
details of outstanding judgements
status of any legal actions against the condominium
corporation
current budget and recent audit statement/report
copy of the current Declaration, By-laws and rules
a listing of current agreements, ie., management and
insurance
statement that the person requesting this Certificate
has the right to inspect the agreements
owner compliance with current agreements regarding any
modifications that relate to the unit
number of units leased for the fiscal year preceding
the status certificate date
certificate or memorandum of current insurance policies
any planned or proposed additions, alterations or improvements
to the common elements, other assets of the corporation
or services
a statement if a court has appointed an inspector pursuant
to the Condominium Act,1998
