72 (1) The declarant shall deliver to every person who purchases a unit or a proposed unit from the declarant or a person acting on behalf of or for the benefit of the declarant a copy of, (a)  the current disclosure statement made by the declarant for the corporation of which the unit or proposed unit forms part; and (b)  the applicable condominium guide under section 71.1. 2015, c. 28, Sched. 1, s. 62 (1). Purchaser not bound (2) An agreement of purchase and sale of a unit or a proposed unit entered into by a declarant or a person acting on behalf of or for the benefit of the declarant is not binding on the purchaser until the declarant has delivered to the purchaser a copy of the current disclosure statement and the condominium guide in accordance with subsection (1). 2015, c. 28, Sched. 1, s. 62 (1). Contents (3) A disclosure statement shall specify the date on which it is made and shall contain, Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 72 (3) of the Act is amended by striking out the portion before clause (a) and substituting the following: (See: 2015, c. 28, Sched. 1, s. 62 (2)) Contents (3) A disclosure statement shall be prepared in accordance with the regulations and shall contain, (a)  a table of contents prepared in accordance with subsection (4) and located at the beginning of the disclosure statement; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (a) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 62 (3)) (a)  a summary prepared in accordance with the prescribed requirements; (a.1)  a statement specifying the date on which it is made; (b)  a statement indicating, (i)  whether the corporation is a freehold condominium corporation or a leasehold condominium corporation, and (ii)  if the corporation is a freehold condominium corporation, the type of freehold condominium corporation that it is; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (b) of the Act is amended by striking out “and” at the end of subclause (i), by adding “and” at the end of subclause (ii) and by adding the following subclause: (See: 2015, c. 28, Sched. 1, s. 62 (4)) (iii)  whether the corporation is a phased condominium corporation; (c)  a statement of the name and municipal address of the declarant and the mailing address of the property or the proposed property and its municipal address if available; (d)  a general description of the property or proposed property including the types and number of buildings, units and recreational and other amenities together with all conditions that apply to the provision of amenities; (e)  if the declarant has made an application for approval described in subsection 9 (4), a summary of the reports, if any, that the approval authority has required be made under subsection 9 (4) and the agreements, if any, that the approval authority has imposed under subsection 9 (5) as a condition of approval; (f)  a statement indicating whether the property or part of the property is or may be subject to the Ontario New Home Warranties Plan Act or whether the declarant has enrolled or intends to enrol the proposed units and common elements in the Plan within the meaning of that Act in accordance with the regulations made under that Act; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (f) of the Act is repealed and the following substituted: (See: 2017, c. 33, Sched. 2, s. 75 (14)) (f)  a statement indicating whether the property or part of the property, and the real property, if any, that is prescribed are or may be subject to the Protection for Owners and Purchasers of New Homes Act, 2017 or whether the declarant has enrolled or intends to enrol the proposed units, common elements and the real property, if any, that is prescribed, in the Plan, within the meaning of that Act, in accordance with the regulations made under that Act; (f.1)  if the disclosure statement is for a unit or proposed unit in a residential condominium conversion project, (i)  a statement that the project is a residential condominium conversion project, (ii)  a list of the pre-existing elements as identified in the pre-existing elements fund study, (iii)  a copy of the pre-existing elements fund study, (iv)  a statement that subclause 13 (1) (a) (i) of the Ontario New Home Warranties Plan Act does not apply to the pre-existing elements, Note: On a day to be named by proclamation of the Lieutenant Governor, subclause 72 (3) (f.1) (iv) of the Act is repealed and the following substituted: (See: 2017, c. 33, Sched. 2, s. 75 (15)) (iv)  a statement that the prescribed provisions of the Protection for Owners and Purchasers of New Homes Act, 2017 or the regulations made under that Act do not apply to the pre-existing elements, (v)  a copy of the text of subclause 13 (1) (a) (i) and subsection 17.2 (1) of the Ontario New Home Warranties Plan Act, and Note: On a day to be named by proclamation of the Lieutenant Governor, subclause 72 (3) (f.1) (v) of the Act is repealed and the following substituted: (See: 2017, c. 33, Sched. 2, s. 75 (15)) (v)  a copy of the text of the provisions mentioned in subclause (iv), and (vi)  a statement that the Registrar, as defined in the Ontario New Home Warranties Plan Act, has confirmed that the conditions set out in subsection 17.2 (1) of the Ontario New Home Warranties Plan Act have been satisfied; Note: On a day to be named by proclamation of the Lieutenant Governor, subclause 72 (3) (f.1) (vi) of the Act is repealed and the following substituted: (See: 2017, c. 33, Sched. 2, s. 75 (15)) (vi)  a statement that the registrar appointed under section 38 of the Protection for Owners and Purchasers of New Homes Act, 2017 has confirmed that the conditions set out in the prescribed provisions of that Act or the regulations made under that Act have been satisfied; (g)  a statement whether a building on the property or a unit or a proposed unit has been converted from a previous use; (h)  a statement whether one or more units or proposed units may be used for commercial or other purposes not ancillary to residential purposes; (i)  a statement of the portion of units or proposed units which the declarant intends to market in blocks of units to investors; (j)  a statement of the portion of units or proposed units, to the nearest anticipated 25 per cent, that the declarant intends to lease; (k)  if construction of amenities is not completed, a schedule of the proposed commencement and completion dates; (l)  a list of the amenities that the declarant proposes to provide to the purchaser during a period of interim occupancy of a proposed unit under section 80; (m)  a copy of the existing or proposed declaration, by-laws, rules and insurance trust agreement, if any; (n)  a brief description of the significant features of all agreements or proposed agreements mentioned in section 111, 112, 113 or 114 and of all agreements or proposed agreements between the corporation and another corporation; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (n) of the Act is amended by adding “21.1” after “section”. (See: 2015, c. 28, Sched. 1, s. 62 (6)) (o)  a statement of whether, to the knowledge of the declarant, the corporation intends to amalgamate with another corporation or whether the declarant intends to cause the corporation to amalgamate with another corporation within 60 days of the date of registration of the declaration and description for the corporation; (p)  if an amalgamation is intended under clause (o), a copy of the proposed declaration, description, by-laws and rules for the amalgamated corporation, if available; (q)  a copy of the budget statement described in subsection (6); Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (q) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 62 (7)) (q)  a copy of the budget statement described in subsection (6), unless the regulations provide otherwise; (q.1)  a statement, prepared in accordance with the regulations, of the circumstances, as may be prescribed, that a declarant knows or ought to know may result in an increase in the common expenses mentioned in any part of subsection (6) after the one-year period immediately following the registration of the declaration and description; (q.2)  a statement, prepared in accordance with the regulations, of the amount of any potential increase mentioned in clause (q.1) that is likely to take place as a result of any of the circumstances mentioned in that clause; (r)  a copy of the budget of the corporation for the current fiscal year if more than one year has passed since the registration of the declaration and description for the corporation; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (3) (r) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 62 (8)) (r)  if more than one year has passed since the registration of the declaration and description for the corporation, a copy of the budget of the corporation for the current fiscal year and a copy of all amendments, if any, made to that budget; (s)  a statement setting out the fees or charges, if any, that the corporation is required to pay to the declarant or another person; and (t)  all other material that the regulations require. 1998, c. 19, s. 72 (3); 2001, c. 9, Sched. D, s. 3 (1); 2015, c. 28, Sched. 1, s. 146 (1); 2015, c. 28, Sched. 1, s. 62 (5). Table of contents (4) The table of contents in the disclosure statement shall be in the prescribed form, shall indicate whether the declaration, by-laws, rules or the proposed declaration, by-laws or rules of the corporation or any other material in the disclosure statement deal with the following matters and, if so, shall indicate where the matters are dealt with: 1.  A statement indicating, i.  whether the corporation is a leasehold condominium corporation or a freehold condominium corporation, and ii.  if the corporation is a freehold condominium corporation, the type of freehold condominium corporation that it is. Note: On a day to be named by proclamation of the Lieutenant Governor, paragraph 1 of subsection 72 (4) of the Act is amended by striking out “and” at the end of subparagraph i, by adding “and” at the end of subparagraph ii and by adding the following subparagraph: This amendment applies only if it comes into force before the day this subsection is repealed by S.O. 2015, chapter 28, Schedule 1, subsection 62 (11). (See: 2015, c. 28, Sched. 1, s. 62 (9), (10)) iii.  whether the corporation is a phased condominium corporation. 2.  The property or part of the property is or may be subject to the Ontario New Home Warranties Plan Act or the proposed units and common elements are enrolled or are intended to be enrolled in the Plan within the meaning of that Act in accordance with the regulations made under that Act. Note: On a day to be named by proclamation of the Lieutenant Governor, paragraph 2 of subsection 72 (4) of the Act is repealed and the following substituted: (See: 2017, c. 33, Sched. 2, s. 75 (16)) 2.  The property or part of the property and the real property, if any, that is prescribed are or may be subject to the Protection for Owners and Purchasers of New Homes Act, 2017 or the proposed units and common elements and the real property, if any, that is prescribed are enrolled or are intended to be enrolled in the Plan, within the meaning of that Act, in accordance with the regulations made under that Act. 3.  A building on the property or a unit or a proposed unit has been converted from a previous use. 4.  One or more units or proposed units may be used for commercial or other purposes not ancillary to residential purposes. 5.  A provision exists with respect to pets on the property or the proposed property. 6.  There exist restrictions or standards with respect to the occupancy or use of units or proposed units or the use of common elements or proposed common elements that are based on the nature or design of the facilities and services on the property or on other aspects of the buildings located on the property. 7.  A statement of the portion of units or proposed units, to the nearest anticipated 25 per cent, that the declarant intends to lease. 8.  A statement whether the proportion, expressed in percentages, of the common interest appurtenant to any unit or proposed unit differs in an amount of 10 per cent or more from that appurtenant to any other unit or proposed unit of the same type, size and design. 9.  A statement whether the proportion, expressed in percentages, in which the owner of any unit or proposed unit is required to contribute to the common expenses differs in an amount of 10 per cent or more from that required of the owner of any other unit or proposed unit of the same type, size and design. 10.  A statement whether any unit or proposed unit is exempt from a cost attributable to the rest of the units or proposed units. 11.  Part or the whole of the common elements or the proposed common elements are subject to a lease or licence. 12.  A statement whether parking is allowed in or on a unit, on the common elements or on a part of the common elements of which an owner has exclusive use and a statement of the restrictions on parking. 13.  Any other statement specified in the regulations made under this Act. 1998, c. 19, s. 72 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 72 (4) of the Act is repealed. (See: 2015, c. 28, Sched. 1, s. 62 (11)) Copy of budget (5) On the request of the declarant, the corporation shall, promptly and without charge, provide a copy of its budget for the current fiscal year to the declarant. 1998, c. 19, s. 72 (5). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 72 (5) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 62 (12)) Copy of budget, etc. (5) On the request of the declarant, the corporation shall, promptly and without charge, provide the declarant with a copy of its budget for the current fiscal year and a copy of all amendments, if any, made to that budget. 2015, c. 28, Sched. 1, s. 62 (12). Budget statement (6) The budget statement is a statement for the one-year period immediately following the registration of the declaration and description and shall contain, Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 72 (6) of the Act is amended by striking out the portion before clause (a) and substituting the following: (See: 2015, c. 28, Sched. 1, s. 62 (13)) Budget statement (6) The budget statement is a statement for the one-year period immediately following the registration of the declaration and description, and it shall cover the corporation’s general and reserve fund accounts, shall be prepared in accordance with the regulations and shall contain, subject to the regulations, (a)  a statement of the common expenses of the corporation; (b)  a statement of the proposed amount of each expense of the corporation, including the cost of the reserve fund study required for the year, the cost of the performance audit under section 44 and the cost of preparing audited financial statements if subsection 43 (7) requires the declarant to deliver them within one year following the registration of the declaration and description; (c)  particulars of the type, frequency and level of the services to be provided; (d)  a statement of the projected monthly common expense contribution for each type of unit; (e)  a statement of the portion of the common expenses to be paid into a reserve fund; Note: On a day to be named by proclamation of the Lieutenant Governor, clause 72 (6) (e) of the Act is repealed and the following substituted: (See: 2015, c. 28, Sched. 1, s. 62 (14)) (e)  a statement of the portion of the common expenses to be paid into a reserve fund, which shall be determined in accordance with the regulations; (f)  a statement of the status of all pending lawsuits material to the property of which the declarant has actual knowledge and that may affect the property after the registration of a deed to the unit from the declarant to the purchaser; (g)  a statement of the amounts of all current or expected fees, charges, rents or other revenue to be paid to or by the corporation or by any of the owners for the use of the common elements or other facilities related to the property, unless a turn over meeting has been held under section 43; (h)  a statement of all services not included in the budget that the declarant provides, or expenses that the declarant pays and that might reasonably be expected to become, at any subsequent time, a common expense and the projected common expense contribution attributable to each of those services or expenses for each type of unit; (i)  a statement of the projected amounts in all reserve funds at the end of the current fiscal year; Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 72 (6) of the Act is amended by adding the following clause: (See: 2015, c. 28, Sched. 1, s. 62 (15)) (i.1)  a statement, prepared in accordance with the regulations, as to whether there will be any increase, as may be prescribed, in the amounts mentioned in this subsection and setting particulars of those increases; (j)  a summary of the most recent reserve fund study, if any; and (k)  all other material that the regulations require. 1998, c. 19, s. 72 (6); 2015, c. 28, Sched. 1, s. 146 (1). Section Amendments with date in force (d/m/y) 2001, c. 9, Sched. D, s. 3 (1) - 29/06/2001 2015, c. 28, Sched. 1, s. 62 (1) - 01/01/2021; 2015, c. 28, Sched. 1, s. 62 (2-4, 6-15) - not in force; 2015, c. 28, Sched. 1, s. 62 (5) - 01/01/2018; 2015, c. 28, Sched. 1, s. 146 (1) - 01/09/2017 2017, c. 33, Sched. 2, s. 75 (14-16) - not in force; 2017, c. 33, Sched. 2, s. 79 (13, 14) - no effect Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2015, c. 28, Sched. 1, s. 63) Disclosure of budget 72.1 If a person enters into an agreement to purchase a unit or a proposed unit from a declarant or a person acting on behalf of or for the benefit of the declarant, the declarant shall deliver to the purchaser, no later than 10 days before delivering to the purchaser a deed to the unit being purchased that is in registerable form, a copy of the budget mentioned in subsection 83.1 (3) for the corporation, unless the regulations provide otherwise. 2015, c. 28, Sched. 1, s. 63. Section Amendments with date in force (d/m/y) 2015, c. 28, Sched. 1, s. 63 - not in force