Strata Property definition
Examples of Strata Property in a sentence
This Agreement shall burden and run with, and bind the successors in title to, the Land and each and every part into which the Land may be subdivided by any means (including by deposit of a strata plan of any kind under the Strata Property Act (British Columbia)).
Every obligation and covenant of the Owner in this Agreement constitutes both a contractual obligation and a covenant granted by the Owner to the City in accordance with section 219 of the Land Title Act in respect of the Land and this Agreement burdens the Land and runs with it and binds the Owner's successors in title and binds every parcel into which it is consolidated or subdivided by any means, including by subdivision or by strata plan under the Strata Property Act.
In the event of a disagreement as to the applicability of a provision of the Strata Property Act, and amendments, replacement legislation or successor statutes, the matter may be referred to arbitration, provided that the provisions of this Sublease are paramount.
Notwithstanding the fact that a strata plan under the Strata Property Act (British Columbia) cannot be filed in respect of the Lands, and without limiting the provisions of this Sublease, the parties agree that it is their intention that the Development and the Homeowners Corporation operate in the manner that would exist if a strata plan was filed in respect of the Lands, the Sublessee held a sublease of a strata lot and the Homeowners Corporation was the strata corporation.
In the event of a disagreement as to the applicability of a provision of the Strata Property Act (British Columbia), amendments, replacements, successor statutes, the matter shall be referred to arbitration, provided that the provisions of this Sublease are paramount.
Where the rental unit is a strata lot, the tenant agrees to complete the Form K, Notice of Tenantʼs Responsibilities, prior to possession and will at all times during the period of the tenancy comply with the provisions of the Strata Property Act as it affects him as a tenant and occupier of the strata lot.
The lien holdback provisions of the Builders Lien Act and the Strata Property Act shall be complied with in that the Seller's solicitors shall hold 7% of the Purchase Price in trust until such time as the lien period as prescribed in the Builders Lien Act has expired.
However, given that section 242(6)(a) of the Strata Property Act states that Council must consider the priority of rental accommodation over privately-owned housing in the area, and that as Council seeks to prioritize the preservation of rental accommodation over privately- owned housing, should an application be received to convert an existing rental building of three (3) units or more to strata title, Council would not in all likelihood approve the application.
Subject to the provisions of the Strata Property Laws and the Bylaws, the Tenant shall have for itself, its guests and invitees, and any Person for whom the Tenant is legally responsible, the non-exclusive right to use the Common Property (including any Limited Common Property designated for the use of a Cascades Lands Strata Lot), in common with all other Persons entitled thereto.
The Tenant’s rights and obligations under Article 7 are subject to the applicable Strata Property Laws and the Bylaws, including obtaining at the Tenant’s expense all required Strata Corporation approvals.