Condo declarations are part of the set of legal documents that are created when a condominium is formed in Ontario. Also referred to as a declaration and description, these documents play an essential role in the process of creating a condominium. So much in fact that when registering with the province, the condo declarations must also be promptly filed with the land registry office. It can only be modified with written consent from 80 – 90% of unit owners.
What is Included in a Condominium Declaration Document?
Created by the developer, the condominium declaration document includes information about the building’s common elements and private areas, referred to as exclusive use, and who claims ownership. It also details the costs associated with the upkeep for each condo owner’s share of the common elements, including patios, balconies, lobbies, terraces, easements, and outdoor areas. If you’re unsure how this affects your condo corporation, we recommend consulting with a professional condo management service like Larlyn Property Management.
Items Included in a Condo Declaration Document
The condo declaration documents must also contain important information in the schedules to the declaration such as:
- Legal street address
- The mailing address (if different than the street address)
- Unit number Legal description of the land
- Boundaries of each condo unit and any related specifics
- Common interest percentage
- Bylaws and house rules
- Consent of mortgage holders when declaration registered
The description document is also an important part of the condo declarations, as it includes the survey plans and certified architectural drawings. Specifically, it details exactly what is included in condo ownership within each unit and in the building including unit dimensions and the shape. An example of this is that every condo unit has a roof, but ownership may not include the roof if it covers several units. Other items in the description document include the following.
Condo Declaration Document Versus Status Certificate
There are distinct differences and purposes when it comes to the condo declaration document versus the Status Certificate. Here is a description of both.
Status Certificate
Best described as a disclosure document that helps potential buyers and their lawyers during the condo sales process, the Status Certificate details the financial status of a condominium unit and the corporation as a whole. It should include a copy of the condo’s governing documents including the declaration, by-laws, and rules.
Condo Declaration
The condo declarations provide physical details including boundaries and each unit’s portion of the common elements.. The condo declaration documents describe the specific operations and limitations on activities permitted within the building for the life of the condo.
Trust Larlyn to Help You Protect Your Investment
If you are a condo board member, owner, or investor, we invite you to partner with the professional team at Larlyn Property Management. Our team has been protecting our customers’ investments and assisting with all of their condominium management needs for almost 50 years. Our experience and knowledge in the industry are unmatched, and we can help. Contact one of our offices today to learn more about how we can help manage and protect your condo investment.
