Register Your Condo Lien Early or Risk Losing It

Timely collection of common expenses by condominium corporations is essential to the safeguard of their financial viability. For this reason, the Condominium Act permits condominiums to register liens against the unit of owners who are in default of paying their common expenses. Once registered, the lien has priority over mortgages. However, to benefit from this powerful collection tool, a corporation must register the lien within three months from when the default first arose. This is a strict deadline. Missing this deadline by even one day may either render the lien invalid or may not capture all of the arrears.    Read the article……………

Related Articles

Airbnb in Condos: Focus on British Columbia

As in Ontario and many other jurisdictions, Airbnb and similar short-term leasing web-based services are big business in British Columbia.

Short-Term Tenancy Update – City of Toronto Approves New Regulations (ON)

Last week Toronto City Council approved recommendations to create a new by-law regulating short-term stays in Toronto. We blogged earlier

Update: New Dates for Condo Act (ON)

You’ve probably heard by now that the dates have changed for implementing changes to the Condominium Act, 1998 (“Condo Act”),