Tuesday, June 24, 2014

New Strata Property Act Amendments - Vancouver.

On April 9, 2014, the BC government approved changes to the Strata Property Act intended to make it easier for strata councils to carry out their duties and to support strata corporations to maintain their buildings. The amendments, part of the Natural Gas Development Statutes Amendment Act (Bill 12) are now in effect, and include the following:
Section 35 is amended to clarify that storage locker allocations are required records and that strata corporations must prepare a list of the storage locker number(s), identifying their ownership by, or designation to, a strata lot. As this information had to be disclosed on Form B under section 59, it was by implication a required record.
  • amendmentsSection 89 is amended to allow the purchaser/owner to whom title to a strata lot is conveyed by the owner developer to apply for an order for removal of a claim of lien.
  • Section 92 is amended to clarify that strata councils are allowed to pay for depreciation reports out of the operating fund of a strata corporation.
  • Section 96 is amended to require a majority vote, rather than the previously required ¾ majority, for certain expenditures from the contingency reserve fund. These include paying for a depreciation report or for repairs or maintenance to common property recommended in the most recent depreciation report. Other expenditures from the contingency fund would continue to require a ¾ majority vote.
  • Section 109 is amended to clarify who is responsible for paying a special levy when the levy is payable in more than one installment and the strata lot changes hands.

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