Misinformation or disinformation

[Unknown Member]

No, there is no provision under the Condominium Property Act for that.

The Act requires that a Reserve fund study be undertaken every five years and that a reserve plan be tabled by the Board every year, but no specific amounts are prescribed.

Please spread the word!

[Condo Owner Scott]

Thank you.

Please spread the word!

[Terry Gibson]

I agree with Brian.

When someone says that “condo law states…” ask them for the section of the Condominium Property Act (CPA) that they believe applies. Here is the link to the Queen’s Printer.

https://www.qp.alberta.ca/documents/Acts/c22.pdf

Other legislation that may be of assistance in your condo in other areas, are the bylaws and the Condominium Property Act Regulation, also available from the QP.

Reserve funds are very important in the long-term. Plans should be updated each year. We understand that a large percentage of condos have underfunded reserves.

Please spread the word!

Misinformation or disinformation

[Condo Owner Scott]

Thank you for the replies Brian & Terry.

Please spread the word!