Condo and Strata Assignment Integrity Register (CSAIR)

The government has released regulations that create the Condo and Strata Assignment Integrity Register in accordance with changes made to the Real Estate Development Marketing Act earlier in 2018. Effective January 1, 2019, developers who market residential strata lots for sale or long-term lease must:

• collect information about assignments of purchase agreements, including key terms of each assignment agreement and the name and social insurance number or business information of the parties to the assignment;
• include terms and a notice in their purchase agreements and disclosure statements to inform purchasers of the new collection and reporting requirements; and
• report this information through the online Condo and Strata Assignment Integrity Register operated by the Land Title and Survey Authority for the Property Taxation Branch.

Developers will be required to report this information on a quarterly basis. Reported information will be kept confidential and shared with other agencies, including the Office of the Superintendent of Real Estate and the Canada Revenue Agency, to ensure assignment transactions are reported and the appropriate taxes assessed.

Please see the following for additional information on the Condo and Strata Assignment Integrity Register:

• News Release
• Condo and Strata Assignment Integrity Register (CSAIR)

In addition to the changes announced today, the Office of the Superintendent of Real Estate is seeking public and industry comment on a new draft policy statement regarding consumer disclosure requirements with respect to assignments of purchase agreements. View Real Estate Consultations for more information.