Updates to the condominium laws in Alberta are on hold after the province ended the current legislative session and announced a new one that will start in November.
It means that the future of Bill 13, the Condominium Property Amendment Act, is in doubt as there is no guarantee that it will be revived in the new session. The original condo act was introduced in the late 60s and despite some adjustments it has not been significantly changed.
Advocates of an update say some of the proposals in the amendment act are desperately needed to bring it up to speed with the industry.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: