Condominium Property Development
The Condominium Property Act sets out the rules for operating and managing condominiums in New Brunswick. The Act contains a framework created to better protect consumers during the approval, purchase and sale process for condos.
The Condominium Property Act will make condo development fairer, safer and more in line with other Canadian jurisdictions. Increased transparency throughout the purchase and sale process will balance the responsibilities of developers with the rights of consumers. The Act is also designed to provide the essential tools for a Condominium Corporation to successfully administer a condominium.
Applies to all condominium development projects
To get the final approval on a condo development, the developer must submit to the Director of Condominiums the following:
- a declaration
- a description
- a certificate of registered ownership from the Land Titles office
- the by-laws for the Condominium Corporation
- a copy of the building permit
- a letter stating that no building permit is needed and no zoning requirements
need to be met (in some cases only depending on the location)
- a copy of the reserve fund study (FAQ 14) for more than 10 units for new or converted buildings
- a building inspection report for converted buildings of less than 11 units
fees payable to SNB will apply for the approval process ranging from $1300 to a maximum of $20,500
- the regular associated fees for registering documents in the New Brunswick Land Titles system
- any other information that the Director deems important.
Once approved, the Director will do the following:
- assign a name to the Corporation
- endorse a certificate of approval for registration on each document
- deliver the endorsed documents to the Registrar of Land Titles.
|Fee Description||Rate in $||Effective Date|
|Approval and Examination Fee||400.00 per unit / partie privative||2011-02-03|
|Approval Fee||500.00 per project / par projet||2011-02-03|