Each condominium has a board of directors that is elected by, and generally made up of, the unit owners. The board is responsible for administration and management of the condominium corporation, incl [..]

Bylaws govern how a condominium corporation is run. They frequently cover matters such as the election and duties of the board of directors, how meetings are conducted and the collection of condo fees [..]

In some jurisdictions, if an owner does not pay his or her condominium fees, the condominium corporation can file a caveat against the unit’s title. The caveat is a legal notice that another party is [..]

A chattel is a piece of personal property that can be moved, such as a refrigerator. In contrast, real property, such as buildings and land, cannot be moved.

In some jurisdictions, the developer of a new condominium must provide you with a disclosure statement before the agreement of purchase and sale is binding. The statement includes, among other things, [..]

These are the documents that describe how the condominium is organized and operated. They have different names in different provinces, but they can include declarations, bylaws and rules. They can con [..]

This is a fund set up by the condominium corporation in a special account to cover the costs of major repairs and replacement of the common property elements over time. Usually it is at least 10 per c [..]

Rules govern day-to-day life in a condominium and help ensure that the condominium is properly operated and maintained. Condominiums may have rules regarding the number of occupants per unit, pets, no [..]

A security offers protection that an obligation will be met. A developer may be required to post a security, such as a bond or a letter of credit, as a means of recourse should he or she fail to compl [..]