A declarant who has entered into an agreement of purchase and sale of a proposed
unit shall take all reasonable steps to complete the buildings required by the agreement subject to
all prescribed requirements and to register, without delay, a declaration and description in respect
of the property in which the proposed unit will be included. 1998, c. 19, s. 79 (1).
No right to terminate(2)
Despite any provision to the contrary in the agreement of purchase and sale, the
declarant is not entitled to terminate an agreement of purchase and sale of a proposed unit by
reason only of the failure to register the declaration and description within a period of time
specified in the agreement, unless the purchaser consents to the termination in writing. 1998,
c. 19, s. 79 (2).
Application to court(3)
Despite subsection (2), if a declaration and description have not been registered, the
declarant may, upon 15 days written notice to the purchasers of all proposed units in the property
affected by the declaration and description, make an application to the Superior Court of Justice
for an order terminating the agreements of purchase and sale of the purchasers. 1998, c. 19,
s. 79 (3); 2000, c. 26, Sched. B, s. 7 (5).
The court may, in the order, provide that a declaration and description shall not be
registered in respect of the property in which the proposed units will be included during a period
specified in the order. 1998, c. 19, s. 79 (4).
On an application for an order, the court shall consider whether,
(a) the declarant has taken all reasonable steps to register a declaration and description;
(b) a declaration and description can be registered within a reasonable period of time; and
(c) the failure and inability to register a declaration and description is caused by
circumstances beyond the control of the declarant. 1998, c. 19, s. 79 (5).
Registration of order(6)
The order is ineffective until a certified copy of it is registered. 1998, c. 19, s. 79 (6).
Interim occupancy80. (1)
An agreement of purchase and sale may permit or require interim occupancy of a
proposed unit. 1998, c. 19, s. 80 (1).
In this section,
“interim occupancy” means the occupancy of a proposed unit before the purchaser receives a
deed to the unit that is in registerable form. 1998, c. 19, s. 80 (2).
Right to pay in full(3)
Despite any provision to the contrary in the agreement of purchase and sale, before the
expiry of the time period mentioned in subsection 73 (2) for rescinding the agreement, a
purchaser may elect to pay in full, on assuming interim occupancy of the proposed unit, the
balance of the purchase price remaining after deducting the amounts paid under the agreement
before assuming interim occupancy. 1998, c. 19, s. 80 (3).