Strata Wind-up and Termination: The Basics

The process of terminating a strata corporation, also referred to as winding up a strata, has changed considerably since 2016 with the introduction of Bill 40. These changes, combined with heightened market activity, and new zoning, have created significant interest in strata wind-ups. Many owners and strata managers find themselves fielding inquiries from developers and/or REALTORS®. What do owners need to know before pursuing their own strata wind-up? How can you, as a REALTOR® and trusted advisor, assist them in the process?

 

In this course you will learn what the strata wind-up process entails from beginning to end and be able to provide a thorough explanation to your clients to help them determine if their property is suitable for a strata wind-up. 

 

Learning objectives:

• By the end of the course, you'll be able to:

• Explain what a Strata Wind-Up process entails from beginning to end.
• Explain why a Strata Corporation may consider a Strata Wind-Up.
• Determine if a property is suitable for a Strata Wind-Up.
• Explain some unintended consequences to prospective clients of the Strata Corporation.

 

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