The Strata Form B: Information Certificate is a crucial legal document in British Columbia that serves to provide mandatory disclosure of specific financial, legal, and operational details about a strata corporation and a specific strata lot. It is typically requested by potential buyers, lenders, or owners of a strata property.
Its primary function is to give a prospective purchaser a clear "snapshot" of the strata lot's standing and the overall health of the strata corporation before the purchase is finalized, thereby reducing risk and ensuring transparency.
The Form B is legally required under the Strata Property Act (SPA) and is binding on the strata corporation and the person who requested it. It provides information in two main categories:
This is information directly related to the individual unit being bought or sold:
Monthly Strata Fees: The current amount the owner pays.
Arrears/Debt: Any money the current owner owes the strata corporation (e.g., unpaid fees, fines, chargebacks).
Special Levies: Any approved special levies the owner is obligated to pay in the future and the due dates.
Alteration Agreements: Details of any agreements where the owner has taken responsibility for expenses relating to alterations to the strata lot or common property.
Assigned Areas: Details about the parking stalls and storage lockers assigned to that specific strata lot.
This is information about the entire development that affects all owners:
Contingency Reserve Fund (CRF): The balance of the CRF, minus any expenditures that have already been approved but not yet spent.
Financial Outlook: Any expected overages in the current year's budget.
Legal Proceedings: Details of any ongoing litigation, arbitration, or tribunal proceedings involving the strata corporation, and any judgments or orders against it.
Unfiled Changes: Amendments to bylaws or ¾ or unanimous resolutions that have been passed by the owners but have not yet been filed in the Land Title Office.
Insurance: A summary of the strata corporation's insurance coverage.
Rentals: The number of strata lots currently being rented (if the strata allows rentals).
The process is mandated by the Strata Property Act and involves a formal request from an authorized party to the strata corporation.
1. Request
An owner, a purchaser, or a person authorized by them (typically a Realtor, Notary Public, or Lawyer) formally requests the Form B.
The request must be submitted to the strata corporation or its strata property manager.
2. Fee Payment
The requesting party must pay the prescribed fee to the strata corporation or manager.
The maximum base fee the strata corporation can charge for the Form B is $35, plus a small charge for copying/reproduction. Rush fees may apply for requests under 7 days.
3. Preparation
The strata council or strata property manager compiles all the required, current information for both the specific strata lot and the entire strata corporation.
The information must be accurate as of the date the form is signed. It must be a current version of the prescribed form.
4. Attachment of Documents
The strata corporation must attach several key documents to the completed Form B.
Mandatory Attachments include: the strata rules, the current annual budget, the most recent depreciation report (if one exists), and the summary of insurance coverage.
5. Delivery
The completed Form B and its attachments must be provided to the requester.
The strata corporation is legally required to provide the Form B within 7 days of the request and fee payment.
A key element of the process is that the Form B is a snapshot in time. If a major event occurs (like a new special levy is approved or a lawsuit is filed) after the Form B is issued, the document is considered outdated. For this reason, lawyers or Notary Publics often request a new, current Form B just prior to the property's conveyance date.