Is it Time to Amalgamate?

stencil.default (33)There is just over a month to go until the amendments to the Condominium Act, 1998, come into force (unless the implementation is delayed again). The industry is abuzz about the amount of work the amendments are going to create with all of the returns, notices of change, certificates, disclosure obligations, etc. So you might be asking “Why would anyone want to create more work for themselves and amalgamate now?”

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Considering Amalgamation?

Amalgamation is simply the process of combining of two or more existing condominiums to create a new condominium.Sometimes it is two condominiums, other times it is ten or more.

Amalgamation can be used in almost any circumstance (assuming the legal requirements are satisfied), but it is often used for older “phased” condominiums. The current version of the Condominium Act, 1998 (the “Act”) permits a condominium to be created over a period of time with 1 or more phases being completed after the initial registration. Prior to the Act there was no way to phase condominiums. Instead, “phased” communities were actually constructed as separate condominiums with shared facilities. For an outsider the community seems like one condominium, not several. Continue reading