BC Real Estate Trading Services Course Strata (Condo) Law & Strata Property Act BC 2 — Questions and Answers
Question 1: In BC, 'limited common property' (LCP) in a strata corporation is:
- Common property that all owners share equally
- Common property designated for the exclusive use of one or more strata lots (e.g., a balcony) (Correct answer)
- Property owned privately by the strata developer
- Areas of the building restricted to strata council use
Correct answer: Common property designated for the exclusive use of one or more strata lots (e.g., a balcony)
Limited common property is common property designated on the strata plan for the exclusive use of one or more specified strata lots, such as a balcony, parking stall, or storage locker.
Question 2: Under the BC Strata Property Act, strata bylaws must be registered at:
- The BC Financial Services Authority
- The Land Title Office (Correct answer)
- The strata corporation's head office
- The municipality
Correct answer: The Land Title Office
Under the Strata Property Act, strata bylaws and bylaw amendments must be filed at the Land Title Office to be effective against future purchasers of strata lots.
Question 3: Under the BC Strata Property Act, an annual general meeting (AGM) of a strata corporation must be held:
- Every 2 years
- Within 2 months after the end of the fiscal year (Correct answer)
- On the anniversary of the strata plan registration
- Only when requested by 20% of owners
Correct answer: Within 2 months after the end of the fiscal year
The Strata Property Act requires the strata corporation to hold an AGM within 2 months after the end of each fiscal year for all owners to review finances, elect the council, and vote on matters.
Question 4: In BC, a strata council may pass resolutions by:
- Unanimous vote of all strata lot owners
- A majority vote of the council members present at a properly convened council meeting (Correct answer)
- 3/4 vote of all owners
- The managing broker's approval
Correct answer: A majority vote of the council members present at a properly convened council meeting
The strata council can make day-to-day decisions by majority vote at a properly convened council meeting. Extraordinary matters require ¾ votes or unanimous votes at a general meeting of all owners.
Question 5: In BC, a '¾ vote' of a strata corporation is required for:
- Electing strata council members
- Approving the annual operating budget
- Amending bylaws or approving significant changes to common property (Correct answer)
- Setting the regular strata fee amount
Correct answer: Amending bylaws or approving significant changes to common property
A ¾ vote (75% of eligible votes) is required for significant decisions such as amending bylaws, making significant changes to common property, and other major matters specified in the Strata Property Act.
Question 6: Under the BC Strata Property Act, which document outlines the rules for a specific strata corporation beyond the standard bylaws?
- Strata Corporation Charter
- Strata Corporation Rules (Correct answer)
- Strata Management Agreement
- Strata Development Permit
Correct answer: Strata Corporation Rules
Under the Act, strata corporations can create Rules (in addition to bylaws) to regulate use and enjoyment of common property and common assets. Rules are easier to pass than bylaws (majority vote) and deal with day-to-day use matters.
BC Real Estate Trading Services Course Strata (Condo) Law & Strata Property Act BC 2
In BC, 'limited common property' (LCP) in a strata corporation is: