An owner who submits a dispute to mediation shall give the corporation notice of
intention within 10 days after the vote authorizing the sale. 1998, c. 19, s. 125 (3).
Entitlement to amount(4)
An owner who serves a notice of intention is entitled to receive from the proceeds of
the sale the amount the owner would have received if the sale price had been the fair market
value as determined by the arbitration. 1998, c. 19, s. 125 (4).
The corporation shall pay to each of the owners who served a notice of intention, the
deficiency in the amount to which the owner is entitled if the proceeds of the sale are inadequate
to pay the amount. 1998, c. 19, s. 125 (5).
The owners other than those who dissented on the vote authorizing the sale are liable
for the amount of the deficiency payments determined by the proportions of their common
interests. 1998, c. 19, s. 125 (6).
Common expenses of other owners(7)
The corporation shall add the amount of the liability of each of the owners who voted
in favour of the sale to the common expenses appurtenant to the units of those owners and may
specify a time for payment by each of those owners. 1998, c. 19, s. 125 (7).
Upon expropriation of the property or a part of the common elements under the
, this Act ceases to govern the property or the part of the common elements, as
the case may be. 1998, c. 19, s. 126 (1).
Subject to subsection (3), if part of the common elements is expropriated under the
, the owners shall share the proceeds in the same proportions as their common
interests. 1998, c. 19, s. 126 (2).
The portion of the proceeds received on expropriation under the
that is attributable to a portion of the common elements that is for the use of the owners of
certain designated units, and not all the owners, shall be divided among the owners of the
designated units in the proportions in which their interests are affected. 1998, c. 19, s. 126 (3).
Effect of registration127. (1)
Upon registration of a notice of termination under section 122 or 123,
(a) this Act ceases to govern the property;
(b) the owners are tenants in common of the land and interests appurtenant to the land
described in the description in the same proportions as their common interests;
(c) claims against the land and the interests appurtenant to the land described in the
description, that were created before the registration of the declaration and description
that made this Act applicable to the land, are as effective as if the declaration and
description had not been registered;
(d) encumbrances against each unit and common interest, that were created after the