Lesson 6

Question 1

Describe how a condominium development is created

Answer 1

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Question 2

Explain the concept of ownership of a strata lot

Answer 2

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Question 3

Explain unit entitlement and its importance to a strata lot owner

Answer 3

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Question 4

Distinguish between the strata corporation and the strata council and be able to describe the duties of each

Answer 4

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Question 5

Explain how bylaws and rules are created and amended

Answer 5

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Question 6

List the responsibilities of a strata lot owner and if he she does not fulfil these duties, the remedies available to the strata corporation or another owner

Answer 6

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Question 7

List the rights of a strata lot owner and the remedies he or she has against the strata corporation or other owners

Answer 7

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Question 8

Describe how a strata building can be “destroyed” and sold

Answer 8

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Question 9

Describe the obligation of the owner developer to disclose rental information

Answer 9

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Question 10

Identify the most important characteristics of bare land strata plans and leasehold strata plans

Answer 10

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Question 11

Discuss what information a licensee should have about a condominium development and where to find the information

Answer 11

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Question 12

Explain how a co-operative development is created and distinguished between this type of development and a condominium development

Answer 12

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