Thursday, June 23, 2005

Special Assessments

Question

Is there any part of the Condo Act or Regulations that addresses a Special Assessment timeline? By this I mean, is there a minimum amount of time between the notification of an assessment and the date it is due? I receive copies of Board Minutes and the possibility of an assessment was never mentioned.

Thanks for any help you can give me. I've searched the Act and Regulations and cannot find anything related to timelines.

Thanks BJE

Answer

Dear BJE

Thank you for your question. This information is found in the bylaws of the condominium corporation. Be sure to check the registered bylaws. Registered bylaws can be obtained from any Registry office in Alberta.

Typically bylaws give the Board the power to Special Assess (cash call) the owners when there is a shortfall. Bylaws typically give the Board the power to set up the flexibility or a plan for the assessment to be implemented. Many bylaws allow an assessment to be levied with as little as 10 days notice to the owners. We recommend reasonableness prevail and that the balance be respected between the need for the funds and the ability of the owners to pay quickly.

You will need to obtain a copy of the CAD which will provide the information you need to obtain these bylaws.

To get a copy of the CAD you will need the legal condo plan number. The condo plan number will be a 7 digit number located on the title to your unit. Once you have that 7 digit plan number you add ";cs" to the number - "xxxxxxx;cs" give this description to the Registry office. They will be able to help you from there.

You can access the CAD and Condo Plan through the web site at Condo-Check. Go to www.condo-check.com and follow the links to the Condo-Plans(SPIN) . You will require a credit card to access the government account (SPIN). Costs are minimal.

I hope this helps

Betty

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