The BC Legislature Takes a Crack at Solving the Problem of Aging Strata Properties

On October 8, 2015, the BC Legislative Assembly introduced a Bill that could significantly expedite the redevelopment of aging strata properties in the Province. Bill-40 includes proposed amendments to a variety of statutes, including the Residential Tenancy Act, the Petroleum and Natural Gas Act, and the Oil and Gas Activities Act. For developers, strata lot owners and strata corporations, however, the most significant aspect of the Bill concerns the Strata Property Act, and the voting threshold that must be met in in order to dissolve a strata corporation.    Read the article…………