Pat Williams, Chair of Clark Wilson LLP’s Strata Property Group, is referenced in Vancouver Magazine as one of the city’s premier condo law experts. The March 1, 2012 article, Should You Sell Your Vancouver Condo Today?, brings to light the issue of strata units owned jointly by numerous individuals who must agree on what to do at the end of their units’ life.
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Personal Property
Our strata corporation has a painting that was provided by the developer as per the disclosure statement. We have had the painting appraised and found out it is worth $60,000. The strata council wants to sell it and use the money for future expenses of the strata corporation. Is this allowed?
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Insurance
An owner of a strata lot negotiated with the owner developer to install hardwood floors and other upgrades to his strata lot during the original construction of the building. This is the only strata lot in the building with these upgrades. Does the strata corporation have to insure these upgrades?