CONDOMINIUM | CO-OWNERSHIPS |
- Purchaser obtains ownership of individual unit (deed)
| - Purchaser obtains ownership of individual unit (deed)
|
- Purchaser gains ownership to individual unit by a deed pursuant to provisions of The Condominium Act
| - Purchaser gains exclusive right to occupy a specific unit through a registered Co-ownership Agreement and the provisions of the The Co-ownership Agreement
|
- Purchaser gains a percentage interest in the common areas of the building.
| - Purchaser obtains ownership of a percentage interest in the common areas of the building.
|
- Purchaser becomes a member of the Condominium Corporation which:
| - Purchaser becomes a member of the Co-ownership Corporation which:
|
| (a) manages the affairs of the building according to the Condominium Act, and more particularly the Declaration and the By-laws; | (a) manages the affairs of the building according to the Co-ownership Agreement, and more particularly the corporation by-laws and or private contracts; |
(b) represents the interests of the owners | (b) represents the interests of the owners |
- Purchaser can individually finance his/her own unit
| - Purchaser can individually finance his/her own unit
|
- Purchaser is assessed for percentage share (based on the size of unit in comparison to the whole building) of common expenses
| - Purchaser is assessed for percentage share (based on the size of unit in comparison to the whole building) of common expenses
|
- Condominium Act requires a reserve monetary fund to be established for maintenance of building
| - Co-ownership agreement requires a reserve monetary fund to be established for maintenance of building
|
- Purchaser can participate in management decisions by sitting on the Board of Directors and voting at Annual General Meeting
| - Purchaser can participate in management decisions by sitting on the Board of Directors and voting at Annual General Meeting
|
- Purchaser is subject to the Declaration, rules and bylaws of the Condominium Corporation
| - Purchaser is subject to the Co-ownership Agreement rules and by-laws and other contractual documentation of the Co-ownership Corporation
|
- Purchaser does not need consent of the other owners or the Condominium Corporation to sell, rent or mortgage his/her unit
| - Purchaser does not need consent of the other co-owners or Co-ownership Corporation to sell, rent or mortgage his/her unit. (Only a few Co-ownerships require a financial approval.)
|
- Sale of unit is subject to receipt of an estoppels certificate which identifies any outstanding or pending payments, assessments or legal actions, re: the unit or Corporation
| - Sale of unit is subject to receipt of an estoppels certificate which identifies any outstanding or pending payments, assessments or legal actions, re: the unit or Corporation
|
- Condominium Corporation has yearly audited financial reports issued to all owners and is managed by a professional Management Company.
| - Co-ownership has yearly audited financial reports issued to all owners and is managed by a professional Management Company
|
Properties I Specialize In | 
|  |
580 Christie St. | 660 Eglington Ave West. |
| | 
|  |
78 Warren Rd. | | 707 Eglington Ave West. | 740 Eglington Ave West. |
