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Lawyer BOB AARON examines TWO among ALTERNATIVES to CONDOMINIUM (Act 1998 ) REGISTRATION 2021/07/13 11:23  
not legal advice, as usual.

Frustrated as a condo owner, Director or lender ? Or uncertain about becoming a condominium owner ?

Toronto lawyer, frequent CBC consumer protection commenter & regular Toronto Star columnist BOB AARON has just released a column generally comparing the CONDOMINIUM ( and arguably B.C. strata ) MODEL with two other major models of shared ownership development in Ontario.

It's well worth a read.

That's particularly because although Ontario's parallel Co-operative Corporations Act, R.S.O. 1990, c. C.35 ( https://www.ontario.ca/laws/statute/90c35 ) is known, FAR LESS IS KNOWN ABOUT the second alternative discussed : MERE "CO-OWNERSHIPS".

In a 2005 Toronto Star article Mr Aaron cited that :

Scattered across the Toronto area are dozens, if not hundreds, of multi-unit residential complexes that have been organized as co-ownerships ” http://www.aaron.ca/columns/2005-02-19.htm

"As-built" these 2 alternatives can appear to be similar buildings albeit in alternative legal universes, but the co-ownership model DOES NOT have a direct statute directly governing it.

Problematic howsoever might or might not be condo or strata laws, they at least have evolved in the daylight along with some degree of consumer protection & due process.

Not so the co-ownerships as typically created privately by the tender mercies & skillsets of developers, realtors or even D.I.Y. part-timers. AND there - once some sorta owners governance body gets well-established without a specific statute - it can do a lot of harm as well as good

Some of the potentially "hundreds" of co-ownerships in Toronto, may be FAR MORE complex than several friends or relatives herding together low-key for a triplex or small farm.

Mr Aaron notes again that OREA the Ontario Real Estate Association has developed a special Form 115 for transacting the sale of such.

Although some U.S. states have evolved state laws arguably targetting forms of co-ownership in the form of homeowner associations or N-F-P not for profit shared ownerships, many of such environments appear to be infested with oppression and lawlessness. Many state laws appear to frustrate accountability.

( I would hate such to be applied to my own cross-covenanted Building Scheme with large co-ownership waterfront. That's even though the common land is approaching - by the effect of MRTA ( a.k.a "expiry by operation of law" ) on cross-covenanting - the expiry of covenanted appurtenance to private ownership (p)lots. It will become "free-standing" .

One has to consider that a free-standing, co-owned entity can have "ownership conditions" built-in and without expiry.

BUT that any aspect of cross-covenanting happening also to validly run in connection with discrete private parcels, is ( thankfully ) subject to eventual MRTA or 'expiry by operation of law".

Thus any separate cross-covenanting which MIGHT happen to compulsorily connect private to shared ownerships, is a clock a-ticking away. . . .
)

The article :

July10/21 ToStar “Co-ops & co-ownership are emerging as alternatives to condos” by lawyer Bob Aaron. https://www.thestar.com/life/homes/2021/07/07/co-ops-and.html?rf
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