In January and April of 2018, the Condominium Property
Act of Alberta (the "CPA") was extensively amended,
and further changes will be coming in the future. These current
amendments will affect all developers and purchasers of new
condominiums in Alberta.
Statutory Language
The CPA has for years required that all agreements to sell a new
condominium unit or a proposed condominium unit must prominently
display certain specific language outlining a purchaser's right
to rescind the contract. That language has now been changed, and
all agreements that were previously in use must be amended
to reflect this new language, or a developer could risk having an
unenforceable contract.
Purchaser's Deposits
