Who should pay for a Status Certificate?
Clifton Kok LLP

Michael H. Clifton, a lawyer with Clifton Kok LLP wrote a memo on why they believe a potential buyer should pay for a Status Certificate.

Their reasons are:

The status certificate will be fresh.

The buyer will be certain that the seller did not remove or alter any information.

Guaranteed access to additional information
Only the purchaser of the status certificate is guaranteed extra information which includes:

Examination of agreements
(7) Upon receiving a written request and reasonable notice, the corporation shall permit a person who has requested a status certificate and paid the fee charged by the corporation for the certificate, or an agent of the person duly authorized in writing, to examine the agreements mentioned in clause (1) (k) at a reasonable time and at a reasonable location.

The agreements include:
(j) a list of all current agreements mentioned in section 111, 112 or 113 (of the Act) and all current agreements between the corporation and another corporation or between the corporation and the owner of the unit.

My take
Lawyers are by nature cautious. However this is good advice. You are talking about a $100 purchase for a unit costing hundreds of thousands.

Never buy a condo without taking a good hard look at the full status certificate package and hire someone to review it for you if you have trouble understanding it.

I suggest that you take a look at all the other blogs that Clifton Kok LLP has posted. They are very well written and informative.

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