What makes land or a development a condo development, is that it is registered with Alberta Land Titles as a condominium corporation, usually by the developer during the building, renovation, or development of the property.
At it’s most basic, a condo corporation is a legal entity that represents the individual condo owners. The condo corporation owns and operates the shared or common property on behalf of the owner collective. Created under the Condominium Property Act. It can enforce its bylaws and rules, buy goods or services, hire contractors, and sue or be sued.
Under the Condominium Property Act, the duties of the condo corporation must be carried out by an elected board of directors—i.e., the condo board.
Legislation that directly impacts the operation of a condominium corporation are the Condominium Property Act and the Condominium Property Regulation, as well as the Real Estate Act and the Real Estate Act Rules that regulate the activities of condominium managers.
The Condominium Property Act outlines the responsibilities and prohibitions of the condo corporation. This Act requires condo corporations to:
Basically, the Condominium Property Act and Condominium Property Regulations provide for condo corporations to establish bylaws and rules specific to that corporation’s operations.