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273 (1) The conversion schedule must meet any requirements as to form and content that are required by this Act and the regulations, and must do all of the following:

  • (a) state whether the strata corporation holds land in its name, or has land held on its behalf, that is not shown on the strata plan;
  • (b) identify land shown on the strata plan and land held in the name of or on behalf of the strata corporation, but not shown on the strata plan, by legal description sufficient to allow the registrar to identify it in the records of the land title office;
  • (c) list the name and postal address of each owner and registered charge holder of the land;
  • (d) list all registered interests in the land
    • (i) as they exist at the time of the resolution, and
    • (ii) as they will exist if the registrar grants an order and the owners become tenants in common in shares calculated according to the following formula:
  most recent assessed value of an owner’s strata lot  
  most recent assessed value of all the strata lots in the strata plan, excluding any strata lots held by or on behalf of the strata corporation  
  • (2) If there is no assessed value for the owner’s strata lot or for any strata lot in the strata plan, an appraised value
  • (a) that has been determined by an independent appraiser, and
  • (b) that is approved by a resolution passed by a 3/4 vote at an annual or special general meeting
  • may be used in place of the assessed value for the purposes of the formula in subsection (1)(d)(ii).
  • (3) If a strata corporation has a schedule of interest on destruction that was required under section 4(g) of the Condominium Act, R.S.B.C. 1996, c. 64, or a similar schedule that was required under any former Act, that schedule determines the owner’s interests in the land and personal property on the winding up of the strata corporation and for that purpose replaces the formula in subsection (1)(d)(ii).

1998-43-273, effective July 1, 2000 (B.C. Reg. 43/2000); 1999-21-46, effective July 1, 2000 (B.C. Reg. 43/2000).

REGULATIONS

The Strata Property Regulation, B.C. Reg. 43/2000, is included at chapter 57 (Strata Property Regulations) in this Manual.

Strata Corporations Subject to a Schedule of Interest on Destruction: Section 273(1) and (2)

See s. 272 of the Act and s. 17.22(4) of the Strata Property Regulation regarding the application of s. 273(1) and (2) of the Act for the purpose of s. 272 to strata corporations that have cancelled a schedule of interest on destruction.

Amalgamated Strata Corporations: Section 273(1) and (2)

See s. 272 of the Act and s. 17.21(4)(b) of the Strata Property Regulation regarding the application of s. 273(1) and (2) of the Act to amalgamated strata corporations, at least one of which is subject to a schedule of interest on destruction, that do not submit an Amended Schedule of Interest on Destruction with an application under s. 269 of the Act.

Schedule of Interest on Destruction under the Condominium Act: Section 273(3)

See s. 17.1 of the Strata Property Regulation for definitions of an “Amended Schedule of Interest on Destruction” and a “schedule of interest on destruction”.

PRACTICE

The Act does not provide a prescribed form for the conversion schedule. However, the conversion schedule must include the information required under s. 273. If the strata plan was filed before the coming into force of the Strata Property Act and included a “Schedule of Interests on Destruction”, the “Schedule of Interests on Destruction” replaces the formula set out in s. 273(1)(d)(ii).