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88 Builders Lien After Purchase From Owner Developer

In This Volume

88 (1) Despite any other Act or agreement to the contrary, if an owner developer conveys a strata lot to a purchaser, a claim of lien under the Builders Lien Act filed against the strata lot, or against the strata lot’s share in the common property, must be filed before the earlier of

  • (a) the date on which the time for filing a claim of lien under the Builders Lien Act expires, and
  • (b) the date which is 45 days after the date the strata lot is conveyed to the purchaser.
  • (2) Despite any other Act or agreement to the contrary, a purchaser of a strata lot from an owner developer must retain a holdback of an amount set out in the regulations until the earlier of
  • (a) the date on which the time for filing a claim of lien under the Builders Lien Act expires, and
  • (b) the date which is 55 days after the date the strata lot is conveyed to the purchaser.
  • (3) The holdback is subject to a lien under the Builders Lien Act.
  • (4) The purchaser must release the holdback to the owner developer at the end of the holdback period provided for in subsection (2) unless in the meantime a claim of lien has been filed, or proceedings have been commenced, to enforce a lien against the holdback.

1998-43-88, effective July 1, 2000 (B.C. Reg. 43/2000).

REGULATIONS

See s. 5.2 of the Strata Property Regulation, B.C. Reg. 43/2000, at chapter 57 (Strata Property Regulations) in this Manual, which sets the amount of holdback to be retained by purchasers of strata lots.

CROSS REFERENCES AND OTHER SOURCES OF INFORMATION

See the discussion of the Builders Lien Act at chapter 36 (Builders Lien Act, S.B.C. 1997, c. 45) in this Manual.