AGM Minutes

AGM minutes are the official written record of the Annual General Meeting held by a strata corporation under the Strata Property Act (SBC 1998, c. 43), documenting all resolutions passed, votes recorded, budget approvals, council elections, and significant discussions. Every strata corporation in BC is required to hold an AGM and maintain accurate minutes as part of its record-keeping obligations. These minutes become part of the corporation's documents that must be disclosed to prospective purchasers upon request.

Yes. Under the Strata Property Act (SBC 1998, c. 43) and its Regulation, strata corporations must keep minutes of all general meetings, including the AGM, and must retain those minutes as part of their records. Owners and eligible prospective purchasers have the right to inspect or obtain copies of these records. Failure to maintain proper minutes is a breach of the strata corporation's statutory obligations.

When purchasing a strata lot, a buyer or their licensee can request AGM minutes through a Form B Information Certificate under the Strata Property Act (SBC 1998, c. 43), which entitles the requester to copies of certain strata records including minutes of general meetings for the past two years. The strata corporation must respond to a Form B request within a prescribed period and may charge a fee set by the Strata Property Act Regulation. A licensed real estate professional regulated by the BCFSA under the Real Estate Services Act can assist in making and interpreting this request.

Reviewing the last two years of AGM minutes is a widely recommended pre-purchase practice because the minutes reveal discussions about unresolved maintenance issues, proposed or approved special levies, owner disputes, bylaw amendments, and the general financial health of the strata corporation under the Strata Property Act (SBC 1998, c. 43). Patterns of recurring problems or contentious owner relations that appear across multiple years of minutes can signal risk that may not be apparent from the Form B alone. BCFSA-licensed licensees operating under the Real Estate Services Act have a duty to assist buyers in accessing and understanding this information as part of their agency obligations.

Yes. AGM minutes often contain discussions or resolutions about proposed special levies, which are one-time charges levied on strata lot owners to cover significant expenses not fully funded by the contingency reserve fund, as governed by the Strata Property Act (SBC 1998, c. 43). Even if a special levy has not yet been formally approved, minutes that record ongoing discussion of major repairs or underfunded reserves can alert a prospective buyer to a potential future financial obligation. Buyers should review both AGM minutes and the strata corporation's depreciation report and financial statements together for a complete picture.

Yes. Under the Strata Property Act (SBC 1998, c. 43), bylaw amendments must be approved by a three-quarters vote at a general meeting such as the AGM, and that vote and any related discussion must be recorded in the minutes. Buyers reviewing AGM minutes can identify recently changed bylaws that may affect how they use their strata lot, including rules about rentals, pets, or renovations. Confirmed bylaw changes also need to be filed with the Land Title Office to be enforceable against a new owner.

AGM minutes of a strata corporation are primarily records of corporate decisions rather than personal information, but they may incidentally contain personal information about individual owners, such as names or dispute details, which is subject to BC's Personal Information Protection Act (PIPA). Strata corporations and licensees should exercise reasonable care when sharing minutes to avoid unnecessary disclosure of personal information beyond what is required for the transaction. Prospective buyers are generally entitled to receive minutes through the Form B process under the Strata Property Act (SBC 1998, c. 43), but any broader distribution should be handled mindfully under PIPA.

If a strata corporation fails to comply with a valid Form B request — which includes providing copies of minutes from general meetings held in the past two years — the requester may have recourse through the Civil Resolution Tribunal (CRT), which has jurisdiction over strata property disputes under the Strata Property Act (SBC 1998, c. 43). The CRT can order a strata corporation to comply with its disclosure obligations. A BCFSA-licensed licensee can advise their client on the proper steps to escalate a refusal.

AGM minutes themselves do not directly affect the calculation of Property Transfer Tax under the BC Property Transfer Tax Act, which is based on the fair market value of the property being transferred. However, information in AGM minutes — such as an approved special levy that increases the effective cost of ownership — could be relevant to a buyer's overall assessment of the transaction's value. For current PTT rates and thresholds, including the 1% / 2% / 3% tiered structure and the additional 2% on residential value over $3,000,000, buyers should consult the BC Ministry of Finance.

Yes. When a strata lot passes to a beneficiary under the Wills, Estates and Succession Act (WESA) of BC, the beneficiary steps into the previous owner's position and becomes bound by the strata corporation's bylaws, rules, and any financial obligations including approved special levies recorded in recent AGM minutes. Reviewing the last two years of AGM minutes is advisable so the beneficiary or executor understands any outstanding strata obligations, upcoming expenditures, or unresolved issues that may affect the estate's management of the property. The executor's duty to act in the estate's best interests under WESA supports conducting this due diligence.