Proposed Changes to the Strata Property Act


Interesting News today regarding proposed changes to the Strata Property Act, courtesy of News Talk 980 CKNW.


As we see buildings continue to age, there have been occasions where there is a desire to sell to a Developer. There's one case in North Vancouver that we know of that has been ongoing for many years, because at this time, under the current Act, 100% of the owners must agree to the sale in order for it to move forward.  Ultimately, court action has been taken, as not everyone was in agreement.  This case is still ongoing.


The Province is proposing moving the percentage of owners in agreement from 100% to 80% agreement.   This is a lengthy process and will not have immediate effect.  We'll see where this goes!


READ MORE  HERE 


Comments:
No comments

Post Your Comment:

Blogs
Posts By Date
Categories
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.