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Assessment

15. (1)

Each unit, together with its appurtenant common interest, constitutes a parcel for

the purpose of municipal assessment and taxation. 1998, c. 19, s. 15 (1).

Common elements

(2)

Subject to subsection (3), the common elements of a corporation that is not a common

elements condominium corporation do not constitute a parcel for the purpose of municipal

assessment and taxation. 1998, c. 19, s. 15 (2).

Exception

(3)

A part of the common elements of a corporation that is not a common elements

condominium corporation constitutes a separate parcel for the purpose of municipal assessment

and taxation if it is leased for business purposes under section 21, the lessee carries on an

undertaking for gain on it and it is in the commercial property class prescribed under the

Assessment Act

. 1998, c. 19, s. 15 (3).

Common elements condominium corporation

(4)

The common elements of a common elements condominium corporation constitute a

parcel for the purpose of municipal assessment and taxation within each municipality in which

the common elements or a part of them are located and the municipal taxes levied on the parcel

or parcels shall form part of the common expenses of the corporation. 1998, c. 19, s. 15 (4).

PART IV

CORPORATION

G

ENERAL

Seal

16. (1)

The corporation shall have a seal that the board shall adopt and may change. 1998,

c. 19, s. 16 (1).

Name

(2)

The name of the corporation shall appear in legible characters on the seal. 1998, c. 19,

s. 16 (2).

Objects

17. (1)

The objects of the corporation are to manage the property and the assets, if any, of

the corporation on behalf of the owners. 1998, c. 19, s. 17 (1).

Duties

(2)

The corporation has a duty to control, manage and administer the common elements

and the assets of the corporation. 1998, c. 19, s. 17 (2).

Ensuring compliance

(3)

The corporation has a duty to take all reasonable steps to ensure that the owners, the

occupiers of units, the lessees of the common elements and the agents and employees of the

corporation comply with this Act, the declaration, the by-laws and the rules. 1998, c. 19,

s. 17 (3).

Dealing with title to real property

17.1

Nothing in this Act confers on the corporation the power to grant, transfer, lease,