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Professional Standards Manual

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5. Strata Sales

(e) Additional Issues for Buyer's Agents - View Entire Section

(VII) Buyer has Reviewed the Documentation

Licensees are encouraged to use the Receipt of Strata Corporation Documentation Form, which can be downloaded from the Council’s Forms web page, when providing copies of documents to interested buyers or their agents. For details, see Documents to Request and Their Significance.

Whether or not licensees have used the Receipt of Strata Corporation Documentation form, they are encouraged to use the following form of acknowledgement clause. Documents listed should include those documents itemized in the Receipt of Strata Corporation Documentation form.

Receipt of Strata Documentation Clause

The Buyer acknowledges having received and being satisfied with:

A Form “B” Information Certificate from the strata corporation dated (date), attaching the strata corporation’s rules, current budget, the developer’s Rental Disclosure Statement (if any), and the most recent depreciation report obtained by the strata corporation (if any).

If relevant, a Form “B” Information Certificate from the section dated (date), attaching the section’s rules, current budget, the developer’s Rental Disclosure Statement (if any), and the most recent depreciation report obtained by the strata corporation (if any).

A copy of the registered strata plan, any amendments to the strata plan, and any resolutions dealing with changes to common property.

The current bylaws and financial statements of the strata corporation, and any section to which the strata lot belongs.

The minutes of any meetings held between the period from (date) to (date) by the strata council, and by the members in annual or special general meetings, and by the members or the executive of any section to which the strata lot belongs.

The current insurance cover note explaining the strata corporation’s insurance coverage and deductibles.

(*)

(*)

(*) Add all other documentation actually received.