An Alberta condominium corporation has approved a large special levy for major repairs. A buyer wants to confirm exactly what amounts the seller's unit owes the corporation. Under the Condominium Property Act, which document certifies these amounts?
Correct Answer
A) The condominium corporation's estoppel certificate
Under s. 43.2 of the Condominium Property Act, the corporation must, on written request, provide within 10 days an estoppel certificate stating the contributions payable for the unit, how often they are payable, any arrears and any interest owing. A special levy is a contribution under s. 39(1)(c), and the certificate is conclusive proof of the amounts it states in favour of the person who requested it. Records such as the reserve fund amount, budget, minutes and particulars of lawsuits are requested separately under s. 44.
Why This Is the Correct Answer
The estoppel certificate is the document the Condominium Property Act uses to certify a unit's financial obligations to the corporation. Section 43.2 requires the corporation to issue it within 10 days of a written request from an owner, purchaser, mortgagee or their lawyer, stating the contributions payable, their frequency, any arrears and any interest. A special levy counts as a contribution, and the certificate is conclusive proof of the amounts stated, which is exactly what a buyer needs to confirm what the unit owes.
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