The Contract to Sell Condominium is essential for any transaction involving the sale of a condominium unit in Canada. This document is used when a property owner wishes to transfer ownership of their condominium unit to a purchaser, ensuring compliance with provincial condominium legislation and real estate regulations. The agreement includes crucial details about the property, purchase price, payment terms, and closing conditions, while addressing specific aspects of condominium ownership such as common elements, maintenance fees, and corporation bylaws. It's designed to protect both parties' interests and ensure transparency in the transaction, incorporating mandatory disclosure requirements and statutory rights. The document is particularly important in Canadian jurisdictions where condominium sales are subject to specific legislative requirements and consumer protection measures.
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1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the condominium property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the condominium unit, including unit number, level, building address, and parking/storage units
5. Purchase Price: Statement of the purchase price, deposit structure, and payment terms
6. Closing Date: Specified date for completion of the transaction and conditions for extensions
7. Condominium Documents: List of required condominium documents to be provided to the purchaser
8. Vendor's Representations and Warranties: Vendor's declarations regarding the property's condition, title, and compliance with laws
9. Purchaser's Representations and Warranties: Purchaser's declarations regarding financial capability and understanding of the agreement
10. Closing Conditions: Conditions that must be satisfied before closing
11. Title and Due Diligence: Requirements for clear title and purchaser's due diligence rights
12. Adjustments: Details of adjustments to be made on closing (taxes, maintenance fees, etc.)
13. Default and Remedies: Consequences of default by either party and available remedies
14. General Provisions: Standard contract clauses including notices, assignment, and governing law
1. Financing Conditions: Include when purchaser requires mortgage financing to complete the purchase
2. Home Inspection: Include when purchaser wishes to conduct a home inspection
3. Rental Property Provisions: Include if the unit is currently tenanted or subject to lease
4. HST Rebate: Include for new construction units where HST rebate is applicable
5. Assignment Rights: Include if assignment of the agreement is to be permitted
6. Furniture and Chattels: Include if specific furniture or chattels are included in the sale
7. Pre-Construction Provisions: Include for pre-construction units with specific completion timelines and warranties
8. Status Certificate Review: Include when purchase is conditional on review of status certificate
1. Schedule A - Legal Description: Full legal description of the property from land registry
2. Schedule B - Included Items: List of fixtures, appliances, and other items included in the purchase
3. Schedule C - Excluded Items: List of items specifically excluded from the sale
4. Schedule D - Common Element Details: Description of common elements and exclusive use areas
5. Schedule E - Financial Disclosure: Detailed breakdown of purchase price, deposits, and payment schedule
6. Schedule F - Condominium Documents: List of all condominium corporation documents provided
7. Appendix 1 - Floor Plans: Unit floor plans and measurements
8. Appendix 2 - Parking/Storage Plan: Layout and details of parking and storage units
9. Appendix 3 - Status Certificate: Current status certificate from the condominium corporation
Relevant legal definitions
Agreement
Amenities
Appurtenances
Business Day
Closing
Closing Date
Common Elements
Common Element Fees
Common Expenses
Completion Date
Condominium Corporation
Condominium Declaration
Condominium Documents
Condominium Plan
Condominium Property
Deposit
Due Diligence Period
Effective Date
Encumbrances
Exclusive Use Areas
Fixtures
HST
Improvements
Land Registry Office
Maintenance Fees
Occupancy Date
Parking Unit
Parties
Property
Purchase Price
Purchaser
Real Property
Reserve Fund
Rules and Regulations
Schedule of Unit Boundaries
Status Certificate
Storage Unit
Title
Unit
Unit Boundaries
Unit Factors
Vendor
Warranties
Amenities
Appurtenances
Business Day
Closing
Closing Date
Common Elements
Common Element Fees
Common Expenses
Completion Date
Condominium Corporation
Condominium Declaration
Condominium Documents
Condominium Plan
Condominium Property
Deposit
Due Diligence Period
Effective Date
Encumbrances
Exclusive Use Areas
Fixtures
HST
Improvements
Land Registry Office
Maintenance Fees
Occupancy Date
Parking Unit
Parties
Property
Purchase Price
Purchaser
Real Property
Reserve Fund
Rules and Regulations
Schedule of Unit Boundaries
Status Certificate
Storage Unit
Title
Unit
Unit Boundaries
Unit Factors
Vendor
Warranties
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Title
Representations and Warranties
Closing Conditions
Due Diligence
Property Inspection
Status Certificate
Common Elements
Maintenance Fees
Insurance
Property Transfer
Default and Remedies
Risk and Possession
Adjustments
Assignment
Notice
Governing Law
Force Majeure
Entire Agreement
Severability
Time of Essence
Further Assurances
Counterparts
Amendment
Survival
Termination
Waiver
Indemnification
Registration
Compliance with Laws
Environmental Matters
Purchase Price
Payment Terms
Deposit
Title
Representations and Warranties
Closing Conditions
Due Diligence
Property Inspection
Status Certificate
Common Elements
Maintenance Fees
Insurance
Property Transfer
Default and Remedies
Risk and Possession
Adjustments
Assignment
Notice
Governing Law
Force Majeure
Entire Agreement
Severability
Time of Essence
Further Assurances
Counterparts
Amendment
Survival
Termination
Waiver
Indemnification
Registration
Compliance with Laws
Environmental Matters
Relevant Industries
Real Estate
Legal Services
Financial Services
Property Management
Insurance
Construction
Property Development
Banking
Professional Services
Relevant Teams
Legal
Real Estate
Sales
Compliance
Property Management
Documentation
Transaction Processing
Risk Management
Corporate Services
Client Relations
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Lawyer
Real Estate Broker
Property Manager
Legal Counsel
Real Estate Paralegal
Mortgage Specialist
Real Estate Development Manager
Sales Manager
Contract Administrator
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Real Estate Transaction Coordinator
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Title Examiner
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