Section 98 Alteration Agreement

A Section 98 agreement is a valuable tool for any real estate administrator or council who wants to ensure that a common-going unit owner`s installation does not endanger the occupants of the condominium, their structural integrity or value, or that the business is subject to additional insurance costs, maintenance and/or repair obligations. A well-developed Section 98 agreement will clarify, attribute and minimize the risk. While Condominium Corporations is given considerable leeway in the creation of such agreements, there is an obligation to act reasonably by requiring a Section 98 agreement on an entity owner. Condominium Corporations must not refuse to approve minor additions, modifications or improvements that do not have a financial impact on the Condominium Corporation. In addition, the form of the agreement should be uniform for all unit owners. They should also ensure that all concerns of the House regarding the nature of the addition and its impact on the condominium are addressed by obtaining additional information from the unit owner or by revising the basic agreement in accordance with Section 98, which is a flexible form and can be modified to deal with each situation. So, if the group`s version was upheld by the Court of Justice, why did he have to pay damages? To complete the agreement, you must make available to your lawyer as soon as possible: the other option is a “bulk” or “group” agreement. In this type of agreement, several owners enter into a single agreement with the company. The main advantage of these agreements is that they allow a group of owners to share the costs of preparing and registering the agreement, so that the unit cost is significantly lower than the preparation of individual agreements for the same number of units. These agreements are also simpler for managers, as the conditions are the same for each participating owner; there are not several agreements with different conditions and obligations to remember. The owner had argued that: the bridge was necessary because the condition of the yard was uncertain, muddy and a feast for the eyes; The bridge is removed before the aircraft is sold. and the owner of the adjacent unit was not required to enter into a Section 98 agreement for a similar bridge.