Login

Proposed bill seeks to modernize condominium law regime in Yukon

Changes will clarify rules on bare land condominiums, mixed-use condominiums, phased developments

Proposed bill seeks to modernize condominium law regime in Yukon
Yukon’s proposed condominium law will clarify rules on bare and mixed-use condos, phased developments.

Yukon’s Bill No. 16, table in early October, contains the proposed amendments that seek to update the legislative framework on condominiums in the territory.

“Condominiums make up a growing portion of the housing Yukoners are buying and our government is committed to modernizing our legislation to facilitate condominium ownership and development,” wrote Tracy-Anne McPhee, Yukon’s justice minister, in the news release from the territorial government.

If passed, Bill No. 16 or the Act of 2020 to Amend the Condominium Act, 2015 will adjust certain elements of the legal regime, including the insurance requirements, which will enable condominium corporations to more flexibly adapt to the shifting insurance market; proxy voting and voting entitlements for the boards of corporation condominiums; and the timelines for developers and purchasers to deliver documents and funds. The bill also clarifies the rights and obligations for developers and the rules for condominium liens.

Other proposed changes pertain to the establishment of a clear reserve fund scheme, of requirements applicable to bare land condominiums and of a legislative framework to create and manage mixed-use condominiums. There are also provisions tackling phased developments and the security for completing construction.

The transitional provisions intend to assist owners and developers in getting ready to implement the changes under the bill, including the requirements relating to insurance, reserve funds, timing of agreements and management contracts.

The proposed amendments aim to achieve a balance between consumer protection and economic and development opportunities, to promote the availability and the development of properly built and managed condominiums and to support a healthy, stable and diversified housing market in the territory.

The proposed changes reflect best practices for condominium ownership and development in Yukon and the concerns expressed by Yukoners.

Related stories

Free newsletter

The Canadian Legal Newswire is a FREE newsletter that keeps you up to date on news and analysis about the Canadian legal scene. A separate InHouse Edition is delivered on a regular basis, providing targeted news and information of interest to in-house counsel.

Please enter your email address below to subscribe.

Recent articles & video

Twins abandoned by father at birth and disinherited win 70 per cent of his estate, court rules

Class action over loss of personal information dismissed on the merits

New rule allows ‘true majority’ vote for boards of firm governed by Canada Business Corporations Act

Securities regulators update: Guidance for crypto asset trading platforms to adhere to legislation

Importers of food, including manufactured food, obliged to ensure products’ safety: lawyer

SCC justice to be first Canadian jurist appointed to Harvard Law School chair

Most Read Articles

Philip Epstein remembered as family law trailblazer, ‘a real mensch’

Twins abandoned by father at birth and disinherited win 70 per cent of his estate, court rules

Law Society of B.C. publicly naming lawyer with misconduct citation unreasonable: B.C. appeal court

Judge rules photos, electronic messages are inadmissible in sexual assault trial of Edmonton doctor