Craig Garbe comments in Law Times on section 124 of Ontario’s Condominium Act, 1998, which provides a mechanism that permits the termination of a condominium with the sale of the entire property.
Section 124, however, is relatively untested.
Its requirement is that 80 percent of the unit owners must consent to the sale process, and written spousal consent must accompany that.
“This section is owner-driven, not court-driven, and the difficulties in achieving consensus may be one of the primary reasons why we haven’t seen more of these,” Craig says. “Where we’re most likely to see these applications going forward is in the older developments, which tend to have fewer stories and fewer units.”
Bennett Jones