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Purchaser owns a suite in
the building, subject to the
bylaws of the Corporation
that owns the common areas.
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Purchaser has the exclusive
right to occupy a specific
suite, by way of a deed on
title, subject to the Tenant
Protection Act.
-
Individual mortgages can be
obtained, as the lender’s
interest is secured by a
deed.
-
Purchaser does not need the
consent of the other owners,
or the Condominium
Corporation, to buy, sell,
or rent a suite.
-
Purchaser is subject to the
Rules and By-Laws of the
Condominium Corporation.
-
Purchaser can participate in
management decisions by
sitting on the board of
directors and voting at the
annual general meeting.
-
A Reserve Fund is
established for planned
Capital expenditures in the
building.
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Purchaser owns a percentage
interest in the Corporation
that owns the entire
building, including the
common areas.
-
Purchaser has the exclusive
right to occupy a specific
suite, by way of a deed on
title, subject to the Tenant
Protection Act.
-
Individual mortgages can be
obtained, as the lender’s
interest is secured by a
deed.
-
Purchaser does not need the
consent of the other owners,
or the Co-Ownership
Corporation, to buy, sell,
or rent a suite.
-
Purchaser is subject to the
Rules and By-Laws of the
Co-ownership Corporation.
-
Purchaser can participate in
management decisions by
sitting on the board of
directors and voting at the
annual general meeting.
-
A Capital Fund is
established for planned
Capital expenditures in the
building.
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