Lawson Lundell's Strata Windup Group

On November 16, 2015 proposed changes to the British Columbia Strata Property Act in Bill 40-2015 were approved by the provincial legislature. These changes will come into effect after related regulatory changes are made, which is expected to occur in early 2016. This amendment, among other things, will make it easier for strata corporations to terminate their strata by lowering the voting threshold required to terminate a strata corporation from a unanimous vote of all strata lot owners to an 80% vote of strata lot owners. For more information regarding this amendment please see "Proposed Amendment to the Strata Property Act: Terminating a Strata Corporation."

Effecting a strata windup can be beneficial for many reasons. As many older strata buildings in Vancouver and across the province reach the end of their life cycle, these buildings and related common property may require costly capital repairs which many owners would rather not pay. Additionally, as developers