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RETS > Chapter 7 > Flashcards

Chapter 7 Flashcards

1
Q

Strata Property Act

A

Legislation that governs the creation and management of strata corporations and strata lots in British Columbia.

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2
Q

Standard Bylaws

A

Default set of bylaws that apply to all strata corporations in BC unless they have been amended and filed with the land title office.

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3
Q

Amended Bylaws

A

Bylaws that have been modified by a strata corporation and filed with the land title office to replace or supplement the Standard Bylaws.

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4
Q

Enforcing Bylaws

A

Process involving complaint receipt, notification, opportunity for response, and written decision before enforcement actions can be taken.

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5
Q

Fines

A

Monetary penalties imposed for bylaw or rule violations, with maximum amounts specified in the bylaws or regulations.

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6
Q

Rental Disclosure Statement (RDS)

A

Document filed by a developer outlining the rental terms and restrictions for strata lots in a development.

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7
Q

Bylaw Violation Procedure

A

Steps required for enforcing a bylaw, including notification, opportunity for response, and written decision.

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8
Q

Maximum Fines

A

Limits on fines for bylaw and rule violations, as set by the Strata Property Act and regulations.

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9
Q

Lien Prohibition

A

Strata corporations cannot file a lien against an owner’s strata lot for unpaid fines.

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10
Q

Remedial Costs

A

Costs incurred by a strata corporation to remedy a bylaw violation, which can be charged to the responsible owner or tenant.

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11
Q

Smoking Bylaws

A

Rules that may prohibit smoking to prevent nuisances, enforceable under the Strata Property Act.

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12
Q

Nuisance

A

An activity causing unreasonable interference with another person’s use and enjoyment of their strata lot, such as smoking or noise.

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13
Q

Rental Restrictions

A

Bylaws that limit or prohibit the rental of strata lots within a strata corporation.

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14
Q

Family Member Exemption

A

An exemption allowing owners to rent their strata lots to family members despite rental restriction bylaws.

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15
Q

Hardship Exemption

A

An exemption allowing owners to rent their strata lots if rental restrictions cause undue hardship.

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16
Q

Age Restrictions

A

Bylaws that restrict the age of occupants in a strata lot, permissible under the Strata Property Act.

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17
Q

Form K

A

Notice of Tenant’s Responsibilities, a form that must be provided to tenants outlining their obligations under the bylaws and rules.

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18
Q

Notice of Tenant’s Responsibilities

A

A document that informs tenants of their obligation to comply with the strata corporation’s bylaws and rules.

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19
Q

Leasehold Strata

A

Strata properties developed on leased land rather than owned land.

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20
Q

Ground Lease

A

The lease agreement between the developer and the leasehold landlord for the land used in a leasehold strata.

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21
Q

Leasehold Tenant

A

A person who holds a leasehold interest in a strata lot within a leasehold strata.

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22
Q

Schedule of Restrictions

A

A list of additional restrictions on leasing, assignment, or occupancy of strata lots in a leasehold strata plan.

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23
Q

Lease Term Expiry

A

The end of the lease period for a leasehold strata lot, after which the leasehold landlord decides on renewal or termination.

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24
Q

Conversion to Freehold

A

The process by which a leasehold strata is converted to freehold, transferring fee simple title to leasehold tenants.

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25
Q

Common Property

A

Areas of a strata development that are shared by all owners, such as hallways, roofs, and recreational facilities.

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26
Q

Limited Common Property (LCP)

A

Parts of the common property designated for the exclusive use of one or more strata lots.

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27
Q

Repair Responsibility

A

The obligation to carry out repairs, which can be the responsibility of either the strata corporation or individual owners.

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28
Q

Maintenance of LCP

A

The requirement for strata corporations to maintain and repair limited common property used by specific owners.

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29
Q

Indemnity Agreement

A

An agreement requiring owners to assume responsibility for alterations made to their strata lots.

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30
Q

Special Levy

A

Additional fees collected from owners to cover the cost of significant repairs or upgrades to the strata property.

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31
Q

Legal Proceedings

A

The ability of a strata corporation to sue or be sued in relation to common property, bylaws, or other matters.

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32
Q

Significantly Unfair

A

Actions by the strata corporation that are deemed significantly unfair can be challenged in court under Section 164 of the Strata Property Act.

33
Q

Cooperative Ownership

A

A form of property ownership where owners possess shares in a non-profit corporation that holds title to the land and buildings.

34
Q

Cooperative Association

A

The entity that owns the property in a cooperative ownership arrangement, with shareholders leasing their units.

35
Q

Shareholder

A

An owner in a cooperative association who holds shares in the corporation and leases a unit from it.

36
Q

Cooperative Financing

A

The methods and challenges associated with obtaining financing for purchasing shares in a cooperative association.

37
Q

Strata Council

A

The elected body responsible for the management and administration of the strata corporation.

38
Q

Strata Manager

A

A professional manager hired by the strata corporation to handle the day-to-day operations and maintenance of the property.

39
Q

Council Meetings

A

Regular meetings held by the strata council to discuss and make decisions on the management of the strata corporation.

40
Q

General Meetings

A

Meetings open to all strata lot owners where major decisions, such as bylaw amendments or budget approvals, are made.

41
Q

Quorum

A

The minimum number of members required to be present at a meeting to make the proceedings of that meeting valid.

42
Q

Proxy Voting

A

A method allowing a strata lot owner to authorize another person to vote on their behalf at a general meeting.

43
Q

Operating Fund

A

The fund used by the strata corporation to cover day-to-day expenses such as maintenance, repairs, and utilities.

44
Q

Contingency Reserve Fund (CRF)

A

A fund set aside by the strata corporation to cover major repairs and replacements.

45
Q

Special Assessment

A

An additional charge levied on strata lot owners to cover unexpected expenses or significant projects not covered by the regular budget.

46
Q

Depreciation Report

A

A report that outlines the condition of a strata corporation’s assets and estimates future repair and replacement costs.

47
Q

Budget Approval

A

The process of approving the annual budget for the strata corporation, usually done at an annual general meeting.

48
Q

Financial Statements

A

Documents that provide detailed information on the strata corporation’s income, expenses, assets, and liabilities.

49
Q

Civil Resolution Tribunal (CRT)

A

An online tribunal that resolves disputes involving strata properties, small claims, and other civil matters in BC.

50
Q

Mediation

A

A voluntary process where a neutral third party helps the disputing parties reach a mutually acceptable agreement.

51
Q

Arbitration

A

A binding process where a neutral third party makes a decision to resolve a dispute, which the parties must follow.

52
Q

Injunction

A

A court order requiring a person or entity to do or refrain from doing a specific action.

53
Q

Significant Unfairness

A

Grounds for legal action where a strata corporation’s actions or decisions are deemed significantly unfair to an owner or tenant.

54
Q

Legal Representation

A

Hiring a lawyer to represent the strata corporation or an owner in legal proceedings.

55
Q

Strata Corporation Insurance

A

Insurance coverage purchased by the strata corporation for common property and common assets.

56
Q

Unit Owner Insurance

A

Individual insurance coverage purchased by strata lot owners for their personal property and liability.

57
Q

Deductible

A

The amount that must be paid out-of-pocket by the insured before the insurance coverage kicks in.

58
Q

Loss Assessment Coverage

A

Insurance coverage that helps pay for an owner’s share of a special assessment levied by the strata corporation due to an insured loss.

59
Q

Common Property Coverage

A

Insurance coverage for areas of the strata development shared by all owners, such as hallways, roofs, and amenities.

60
Q

Flood and Earthquake Insurance

A

Optional insurance coverage for damages caused by floods or earthquakes, often required in areas prone to these risks.

61
Q

Routine Maintenance

A

Regular, scheduled activities to keep the property in good working order, such as cleaning, painting, and minor repairs.

62
Q

Emergency Repairs

A

Urgent repairs required to address immediate safety or property damage concerns, such as plumbing leaks or electrical issues.

63
Q

Preventive Maintenance

A

Actions taken to prevent potential problems or damage, such as inspections and servicing of equipment.

64
Q

Maintenance Schedule

A

A plan that outlines when and how routine maintenance tasks will be performed.

65
Q

Common Property Repairs

A

Repairs to areas or systems shared by all owners, such as roofs, elevators, and landscaping.

66
Q

Owner Responsibilities

A

Maintenance and repair tasks that are the responsibility of individual strata lot owners, typically within their units.

67
Q

Bylaw Amendment

A

The process of changing or adding to the bylaws of a strata corporation, typically requiring approval by a 3/4 vote at a general meeting.

68
Q

Rule

A

A regulation established by the strata council that governs the use of common property and common assets, requiring only a majority vote by the council.

69
Q

Compliance

A

Adherence to the bylaws, rules, and regulations set by the strata corporation.

70
Q

Special Resolution

A

A resolution passed by a 3/4 vote of the owners present in person or by proxy at a general meeting.

71
Q

Unanimous Resolution

A

A resolution that requires the approval of all eligible voters in the strata corporation.

72
Q

Annual General Meeting (AGM)

A

A yearly meeting where the strata corporation’s budget is approved, council members are elected, and other major decisions are made.

73
Q

Bahmutsky v. Petkau

A

A case where the CRT found a smoking bylaw violation due to nuisance caused by smoke in a neighboring lot.

74
Q

Stevens Case

A

A case where fines were upheld for violating an age restriction bylaw, despite the owner’s request for exemption.

75
Q

Hallonquist Case

A

A case where the Human Rights Tribunal dismissed a complaint against an age restriction bylaw in a strata development.

76
Q

Dubas v. Strata Plan VR 92

A

A case confirming that a majority vote is sufficient to engage a brokerage to market a strata property for sale.

77
Q

Kunzler Case

A

A case where a new bylaw prohibiting cannabis production was upheld despite being introduced after the owners purchased the property.

78
Q

Petkau Case

A

A case illustrating the strata council’s duty to enforce bylaws and the potential liability for failing to do so.

RETS (18 decks)

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