RTA · Condominium Property Regulation
Part 8 — .01
73.02 Proceeds of sale and other assets of corporation
or of the sale of the building or parcel, or any portion of the
building or parcel, shall be, subject to an order of the Court under
section 61 of the Act,
(a) first, used to pay any re maining debts and liabilities of the
corporation, and
(b) second, distributed to the owners of the units in the
condominium plan in accordance with the unanimous
resolution passed under section 62(1) of the Act.
(2) Nothing in this section affects a claim to sale proceeds arising
under this section by a person holding a charge on a unit.
AR 154/2019 s27;23/2026