RTA · Condominium Property Regulation
Part 1 — .4
20.34 Trust account records
prescribed trustee shall keep a complete and accurate financial
record of the following information respecting the account for each
purchaser:
(a) the name of the purchaser;
(b) the amount of each d eposit made into trust;
Section 20.4 AR 168/2000
(c) the date of each deposit;
(d) the total amount of money currently held in trust;
(e) the amount of interest earned on money held in trust;
(f) a description of each disbursement made from money
received or held in trust.
(2) For the purposes of the Act, a trustee shall keep the records
required under subsection (1)
(a) for the entire time that the purchaser's deposit money is in
the trust account, and
(b) where all of the money is paid out of the account, for at
least 5 years from the date on which money is last paid
out of the trust account.
(3) Nothing in this Regulation precludes
(a) a prescribed trustee from requiring information be
provided by a purchaser or a developer for the purposes of
determining compliance with an enactment of Alberta or
Canada,
(b) a prescribed trustee from refusing to accept money for
deposit, or
(c) a custodian under the Legal Profession Act from assuming
responsibilities of a prescribed trustee in accordance with
an order under that Act.
AR 181/2017 s6