Under Alberta's Condominium Property Act, a purchaser's lawyer makes a written request to a condominium corporation for a certificate about a unit's contributions. What must the corporation provide, and by when?
Correct Answer
A) An estoppel certificate on the unit's contributions and arrears, within 10 days
Section 43.2 of the Condominium Property Act requires the corporation, on the written request of an owner, purchaser or mortgagee or their solicitor, to provide an estoppel certificate within 10 days after receiving the request. It certifies the contributions payable, how often they are payable, any arrears and any interest owing, and it is conclusive proof of those matters in favour of the person who requested it.
Why This Is the Correct Answer
Section 43.2(1) requires the corporation, within 10 days after receiving a written request from an owner, purchaser or mortgagee or their solicitor, to provide an estoppel certificate on the contributions, their frequency, any arrears and interest. Section 43.2(2) makes the certificate conclusive proof of those matters for the person who requested it.
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