I am selling my condominium and the Board has just resolved to issue a special assessment. Who is responsible for paying the special assessment?
- Good Law LLP
- Nov 16, 2022
- 1 min read
Updated: Feb 11
Under the standard real estate contract in use in Alberta, you are. However, it is negotiable and be careful if there are installment payments due after your intended sale. Special assessments are generally issued top up an inadequate reserve fund or to pay for an unexpected expense. The buyer will enjoy those benefits.