The information provided above is of a general nature only. Should you require more information regarding either of the above and more particularly co-ownerships, please consult your solicitor

• Buyer obtains ownership of a percentage interest by deed.
  
• Buyer gains exclusive right to occupy a specific unit through a Registered
  Ownership and the provisions of the Co-ownership Agreement.
  
• Buyer obtains ownership of a percentage in the common areas in the
  complex or building.
  
• Buyer becomes a member of the Co-ownership Corporation which:
  (a) Manages the affairs of the building according to Co-ownership
  Agreement, the corporation by-laws and or private contracts
  (b) represents the interest of the owners.
  
• Buyer can individually finance his/her own unit.
  
• Buyer is assessed for percentage share (based on the size of the unit in
  comparison to the whole complex or building) of common expenses.
  
• Co-ownership Agreement requires a reserve monetary fund to be
  established for maintenance of the complex or building.
  
• Buyer can participate in management decisions by sitting on the
  Board of Directors and voting at the Annual General Meeting.
  
• Buyer is subject to the Co-ownership Agreement rules and by-laws
  and other contractual documentation of the Co-ownership Corporation.
  
• Buyer does not need the consent of the other co-owners or
  Co-ownership Corporation to sell, rent or mortgage his/her unit.
  
• Sale of unit is subject to a Status Certificate which identifies any
  outstanding or pending payments, assessment, or legal action related to the unit and/or the Corporation.
  
• Co-ownership has yearly audited financial reports issued to all owners and
  is managed by a professional Management Company.

• Buyer obtains ownership of individual unit by deed.
  
• Buyer gains a percewntage interest in the common areas of the
  complex or building.
  
• Buyer becomes a member of the Condominium Corporation which:
  (a) manages the affairs of the complex or building according to the Condominium
  Act, and more particular the Declaration and the By-laws.
  (b) represents the interest of the owners.
  
• Buyer can individually finance his/her own unit.
• Buyer is assessed for a percentage share (based on the size of the unit in
  comparison to the whole complex or building) of common expenses.
  
• The Condominium Act requires a reserve monetary fund to be established
  for the maintenance of the complex or building.
  
• Buyer can participate in the management decisions by sitting on the Board of
  Directors and voting at the Annual General Meeting.
  
• Buyer is subject to the Declaration, rules and by-laws of the
  Condominium Corporation.
  
• Buyer does not need consent of the other owners or the
  Condominium Corporation to sell, rent or mortgage his/her unit.
  
• The sale of a unit is subject to the receipt of a Status Certificate which identifies any outstanding or pending payments, assessments, or legal actions regarding the unit and/or the Corporation.
  
• The Condominium Corporation has yearly audited financial reports issued to all
  owners and is managed by a professional Management Company.