What exactly is a condominium?

Mourning

Condos were created in Ontario by the Condominium Act in 1967. In a nutshell, a condo is a system of property ownership that involves the division of property into units that are individually owned, common elements that are owned in common by the owners of all units and an administrative framework that enables the owners to manage the property for all owners’ benefit. There is no standard list of amenities that are to be provided; each building (or series of buildings) is set up individually.

For more detailed information on condo law, check out the folks over at the Ontario Condo Law Blog.

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