Strata Tip of the Week - Why It’s Important to Obtain a Current Version of the Form B: Information Certificate

1. Obtain a Current Version of the Form B

As per the Strata Property Act, buyers are entitled to receive a current and complete Form B: Information Certificate. This document, issued by the strata corporation or the strata manager on behalf of the corporation, includes:

A. Important details about the overall strata corporation, and

B. Specific information relevant to the individual strata lot the Form B pertains to.

When providing a Form B to a potential buyer or real estate licensee, strata corporations, and by extension their strata managers, must ensure they use the most up-to-date version of the Form B available.

However, we continually find that many strata corporations or their strata managers are still using outdated or incomplete versions of the Form B. This can be problematic, as missing or outdated information may impact a buyer's purchase decision.

2. What’s New with the Form B?

Several updates have been made to the Form B in recent years, including:

• A summary of the strata’s insurance coverage must now be attached to the Form B.

• Rental disclosure statements are no longer required with the Form B.

• The number of units rented in the strata corporation no longer needs to be included.

• Strata corporations must confirm if they have obtained an electrical planning report; if available, a copy must be attached.

If any of this information or documentation is missing from the Form B you received, we recommend requesting a new Form B that includes all required information.

3. How current does the Form B need to be?

Check out our previous email titled “Make Sure the Form B: Information Certificate is Current”, to learn why we recommend the Form B never be older than 1 month.

That’s it for this week. If you have any suggestions for other topics you’d like us to cover, please let us know at info@condoclear.ca.