11/29/2016 – Jurisdiction Ontario
Part 57 published on 01/03/17
Condominium corporation liable for inaccurate status certificates
On appeal, it was held that the condominium corporation had issued incomplete or inaccurate status certificates to two purchasers. The Court said that the certificates had failed to disclose potential special assessments, based on information known to the corporation at the time.
The Court held that each purchaser was entitled to $20,000 in resulting damages.
The Court also held that the condominium corporation would not necessarily be liable for damages when failing to meet the three-year deadline for obtaining a new reserve fund study.
