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A Guide to buying a Condo in Alberta
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What is a "Condominium"? Condominium has been inaccurately described by many different forms and images.
A"Condominium" is simply a system of land ownership whereby an individual can obtain "ownership of an area within a shared parcel of land" or the "ownership of a space stacked above ground". "Condominium", in other usage, can be referred to as: - a Unit
- a condominium project or development
- a type of property
- a lifestyle
- living in a community
The first condominium legislation in Canada, the Condominium Property Act of Alberta, was passed by the Alberta Legislature on August 1, 1966. In May, 1996 the legislature passed the Condominium Property Act Amendment Act, 1996 (Bill 23). On September 1, 2000, the amended Act & Regulation (Revised Statues of Alberta 2000 Chapter C-22) were proclaimed providing the condominium industry with new and/or amended provisions in a number of areas including self-policing, increased disclosure obligations, mandatory reserve fund requirements, increased protection for buyers, greater Powers for Boards and additional options for dispute resolution. For detailed valuable information about condo ownership, please visit the province of Alberta's Condo Guide. 
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