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A closer look at the Report on Common Property, Land Titles, and Fundamental Changes for Stratas: Should the Strata Property Act provide that a lease of a fixture that is common property or of a common asset entered into by the owner-developer may not exceed five years?
This post is the first of a series highlighting key recommendations in the Report on Common Property, Land Titles, and Fundamental Changes for Stratas. For other entries in the series, click here. Brief description of the issue Despite general provisions imposing duties and restrictions on owner-developers, there are still specific concerns about transactions involving common property. These concerns relate to long-term leases tying up a strata’s common property (items such as enterphones and security cameras often Read more…