Under BC's Strata Property Act, how does a prospective purchaser who asks obtain disclosure of a special levy that has been approved but is not yet payable?
Correct Answer
D) From the strata's Information Certificate (Form B)
Strata Property Act s. 59 requires the strata corporation, within one week of a request by an owner or purchaser, to give an Information Certificate (Form B). Section 59(3)(d) requires it to disclose any amount the owner must pay in the future for a special levy that has already been approved, and the date it is due.
Why This Is the Correct Answer
This answer is correct. Section 59(3)(d) requires the Form B Information Certificate to disclose approved special levies the owner will have to pay and when they are due.
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An Alberta brokerage has an agency relationship with a seller, and a buyer that the same brokerage represents wants to buy that seller's property. Under Rule 59(1) of the RECA Rules, what may the buyer, the seller and the brokerage do to facilitate the purchase?
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In British Columbia, if an agent discovers their client is using the property purchase to launder money from illegal activities, what is the agent's primary legal obligation?