Form B — Strata Information Certificate

Form B — Strata Information Certificate is a prescribed document under the Strata Property Act (SBC 1998, c. 43) and its Regulation that a strata corporation must issue when a strata lot is being sold. It provides prospective buyers with key financial and legal information about the strata corporation, including current strata fees, the contingency reserve fund balance, outstanding special levies, current bylaws, and any pending or active litigation. The form is prescribed by the Strata Property Act Regulation, and its use is mandatory — it cannot be waived by agreement between buyer and seller.

Under the Strata Property Act, an owner or their authorized agent may request Form B from the strata corporation, and the strata corporation is legally obligated to provide it. The strata corporation must issue the certificate within a timeline set out in the Act and Regulation, and it may charge a fee for doing so up to the maximum prescribed by regulation. In practice, the seller or the seller's licensee typically requests Form B on behalf of the transaction, though the buyer's licensee should confirm it has been obtained before completion.

Form B must disclose a comprehensive snapshot of the strata corporation's affairs, including the current monthly strata fees for the strata lot, the balance of the contingency reserve fund, any current or future special levies, outstanding amounts owed by the owner of the lot, a copy of the current bylaws and rules, and particulars of any current or threatened litigation involving the strata corporation. It must also disclose any known and unresolved building defects. This information is prescribed by the Strata Property Act Regulation and must reflect the strata corporation's records as of the date the certificate is issued.

Yes. The Strata Property Act gives a buyer the right to rescind a contract of purchase and sale for a strata lot if they did not receive Form B, the current bylaws and rules, and certain other prescribed documents before the contract was entered into or within a prescribed period afterward. This rescission right is a significant protection for buyers and cannot be contractually waived. Licensees acting for buyers should confirm that all prescribed strata documents, including Form B, are received and reviewed before the rescission period expires.

Under the Strata Property Act, any special levy that has been approved by a resolution of the strata corporation and is disclosed on Form B becomes the financial responsibility of the incoming owner — the buyer — upon transfer of the strata lot, regardless of when the levy was approved or whether the seller was the owner at the time of approval. This is a critical point for buyers to understand, as they become liable for those levies even if they have not yet been collected. Buyers should carefully review Form B for any outstanding or approved-but-uncollected levies before completing the purchase.

Form B is a snapshot certificate that reflects the strata corporation's records as of its date of issue. The Strata Property Act Regulation addresses the currency of Form B, and parties should confirm whether a certificate issued some time before completion still accurately reflects the strata corporation's financial and legal position, as circumstances can change. If there is a significant gap between the date Form B was issued and the date of completion, the buyer or their licensee may wish to request an updated certificate. Consult the current Strata Property Act Regulation or BC Government guidance for any specific currency or expiry provisions.

Form B — Strata Information Certificate provides broad financial and legal disclosure about the strata corporation and the strata lot at the time of sale, including fees, levies, bylaws, and litigation. Form F — Certificate of Payment, also prescribed under the Strata Property Act, confirms that all strata fees, special levies, and other amounts owed by the seller for that strata lot have been paid in full as of the date of the certificate. Form F is typically required by the buyer's conveyancer as a condition to completion, ensuring the buyer does not inherit any arrears owed by the seller to the strata corporation.

BC real estate licensees are governed by the British Columbia Financial Services Authority (BCFSA) under the Real Estate Services Act (RESA) and its Rules. Licensees acting for buyers are expected to take reasonable steps to ensure their clients receive and review Form B and other prescribed strata documents within the applicable rescission period, and to explain the significance of the information disclosed. Licensees acting for sellers should facilitate the timely request and delivery of Form B to avoid rescission rights being triggered against their client. Failure to meet these obligations may constitute a breach of a licensee's duties under RESA.

Yes, the balance of the strata corporation's contingency reserve fund (CRF) must be disclosed on Form B under the Strata Property Act. The CRF is a fund maintained by the strata corporation to cover major unexpected or long-term repair and replacement costs for common property and common assets. A low CRF balance relative to the strata corporation's anticipated future expenses — which may be assessed in a depreciation report — can signal a higher likelihood of future special levies being imposed on owners. Buyers should review the CRF balance alongside any available depreciation report to assess the strata corporation's financial health.

Yes, Form B must disclose any current or threatened litigation involving the strata corporation, as required by the Strata Property Act and its Regulation. Pending or active litigation can have significant financial implications, since legal costs and any adverse judgments may ultimately be borne by all owners through special levies or increased strata fees. A buyer who discovers material litigation disclosed on Form B should consider the nature, size, and potential outcome of the proceedings as part of their due diligence before completing the purchase. This is educational information only — buyers may wish to seek independent legal advice to interpret the significance of any disclosed litigation.