Condominium

It means “ownership with others or shared ownership”.

Condominium ownership has two components : (i) Unit ownership (ii) Common property
ownership
Not Condominium:

Homeowners association (HOA): (i) It is created at the start of a real estate development to fund
the maintenance of features.
(ii) It is formed under Company Act
(iii) Owner pay fee annually/monthly

Housing Co-operative: (i) It is non-profit, legal entities incorporated and managed by

their members through an elected Board of Directors.
(ii) The co-operative corporation owns a building and each
occupant is a shareholder.
(iii) Shareholder cannot sell the unit but can sell shares.

Timeshares: (i) The property holds for time period

(ii) This is two-categories: --- Fee simple (Posses)
--- Right to use ownership (Lease)

Fractional ownership: (i) Individual possess fee simple

(ii) Owners share of the property typically from ¼ to 1/13
(iii) Recreation centre

Condominium uses and styles:

(i) Residential condominium: Apartment ; shared entrance ; owners or occupants live

(ii) Townhouse Condominium: Multi-story units
(iii) Semi-attached condominium: Two units placed side-by-side
(iv) Detached condominium: stand-alone ; separate units
(v) Hotel condominium: Hotel
(vi) Mobile home/RV park condominium: mobile home; recreational vehicles
(vii) Marina condominium: dockominiums
(viii) Hangar condominiums: private airparks and small airports
(ix) Equestrian condominiums: owners horse occupy
(x) Commercial condominium: office tower; low-rise business centre
(xi) Industrial condominium: manufacturing or distribution building such as a workshop,
warehouse, or storage facility
(xii) Retail condominium: business selling goods to the public
(xiii) Mixed-use condominiums: combine units with more than one use (retail,
commercial,residential)

Creations of Condominiums:

i) Created by developer
ii) The plan is 2 or 3 dimensional that outlines the size, location and boundaries of the land
iii) The plan also divides the property into units and common areas

Condominium Structure:

i) Unit owners: make the corporation

ii) Condominium corporation: run by Board of Directors
iii) Board of Directors: care common property
iv) Common Property: owned by unit owners
How a Registration Number is Assigned:

Plan
An Alberta Land Surveyor creates a Condominium
plan

Registration

Condominium plan is submitted

to Land Titles for registration

Number

Alberta Land Titles assigns a

number to the plan

Corporation

The plan number is

conferred onto the
condominium
corporation
Registration number: 9810716

9810716 Year the condominium year

9810716 Land titles office
9810716 Unique identification number

Board of Directors:  Once elected, notice of the names and addresses of all directors must be filed
with Alberta Land Titles within 30 days.
 Directors who are not designated officers of the condominium corporation
are often referred to as members-at-large. A member-at-large usually focuses on how current or
proposed actions may affect the unit owners and may head a specific committee (e.g. welcoming
committee, social committee, landscaping committee)

Meetings of a condominium corporation:

Board Meeting Address the affairs of the condominium corporation

Committee Meetings Social committee, roof replacement committee
General Meetings To make decisions regarding specific issues that require input from unit
owners
Extraordinary Meetings Specific issue that requires immediate attention and input from unit
owners
Annual General A new AGM must be scheduled within 15 months from the date on
Meeting(AGM) which the previous one was held.
Prepare and distribute to all unit owners the condominium corporations
annual budget, the annual financial statements and a report outlining
activity regarding the reserve fund.

Decision-making process of the condominium corporation: