TRENDING: These Are The Invisible Decisions Driving Today's Development

Status Certificate

A status certificate in Ontario discloses financial and legal details of a condo corporation, essential for buyer due diligence.

Status Certificate

September 30, 2025


What is a Status Certificate?

A status certificate is a document issued by a condominium corporation in Ontario that provides important financial and legal information about a condo unit and the corporation as a whole. It includes details on reserve funds, legal proceedings, common expenses, and rules.

Why Status Certificates Matter in Real Estate

Status certificates matter in real estate because they provide transparency to buyers, lenders, and lawyers before completing a condo purchase. They help assess the financial health and potential risks of the condominium corporation.

Example of a Status Certificate in Action

Before buying a condo in Toronto, a buyer’s lawyer reviews the status certificate, discovering that the condo corporation has a healthy reserve fund and no pending lawsuits.

Key Takeaways

  • Provides financial and legal details about a condo.
  • Includes reserve fund balance and common expenses.
  • Reveals ongoing lawsuits or risks.
  • Reviewed by lawyers and lenders in transactions.
  • Essential for buyer due diligence in condo purchases.

Related Terms

  • Reserve Fund Study
  • Condo Fees
  • Disclosure Statement
  • Condominium Corporation
  • Buyer Due Diligence

Additional Terms

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

More For You

Toronto Rail Yards Would Bring 4,000 Homes To Downtown Rail Corridor

Toronto Rail Yards Would Bring 4,000 Homes To Downtown Rail Corridor

Fengate

What do New York City’s Hudson Yards, Chicago’s Millennium Park, and Paris’s Rive Gauche have in common? They’re all built directly on top of active railway lines. And Toronto has fresh plans to do the same – this time, as a brand-new mixed-use community rather than a standalone park.

For years, what to do with the airspace above the Union Station rail corridor has been a hot topic. Former Toronto mayor John Tory famously proposed Rail Deck Park – a 21-acre green space with a $1.7 billion price tag – back in 2016. Now, following several years of planning and ownership consolidation, the LiUNA Pension Fund of Central and Eastern Canada and master developer Fengate Asset Management have unveiled reworked plans for an entire mixed-use community called Toronto Rail Yards.

Keep ReadingShow less

Coast Mental Health Planning 29-Storey Social Housing Tower In Mount Pleasant

Coast Mental Health Planning 29-Storey Social Housing Tower In Mount Pleasant

The proposal for 259-293 E 11th Ave and 216 Kingsway in Vancouver. (Diamond Schmitt Architects, Coast Mental Health)

A rezoning application has been submitted for a high-rise mixed-use tower in Vancouver that's residential space would consist entirely of social housing.

The subject site of the proposal is 259-293 East 11th Avenue and 216 Kingsway, located on the western side of Sophia Street in the Mount Pleasant neighbourhood, and is part of the Broadway Plan area.

Keep ReadingShow less

Bank Of Canada Holds Interest Rate At 2.25%

Bank Of Canada Holds Interest Rate At 2.25%

The Bank of Canada held its overnight rate at 2.25% on June 10, citing a mix of domestic weakness and global turbulence that has complicated the economic outlook.

Canada's GDP slipped 0.1% in Q1, weaker than the Bank had projected in April, and the economy is expected to remain in excess supply even as growth rebounds modestly in Q2.

Keep ReadingShow less

A Lake Tremblant Waterfront Estate Just Broke Québec's Residential Sales Record

A Lake Tremblant Waterfront Estate Just Broke Québec's Residential Sales Record

A lakefront estate in Mont-Tremblant, listed at $19,800,000, has sold — setting a new record as the highest residential sale ever recorded in the region through the Québec Professional Association of Real Estate Brokers' Centris database.

The sale, brokered by Sotheby's International Realty Canada, involved a Canadian buyer represented through the Sotheby's Québec network. Further details of the transaction are being kept private.

Keep ReadingShow less

From Muck To Material: The Second Life Of Transit Tunnels

From Muck To Material: The Second Life Of Transit Tunnels

Metrolinx

Transforming Toronto’s future means digging through its past – literally.

The anticipated 15.6 kilometre Ontario Line subway will transport riders across the city in 40 minutes — from Exhibition Station to Don Mills Road — and feature both underground tunnels and an elevated gateway.

Keep ReadingShow less

'Try Before You Buy' Lands In Vancouver For Buyers-To-Be

'Try Before You Buy' Lands In Vancouver For Buyers-To-Be

ACE Display Suites (Wesgroup)

Wesgroup Properties is giving qualified buyers something the Vancouver new development market has never offered before: a weekend to see for themselves.

In a city where new development purchases are typically made on the strength of a floor plan and a showroom visit, it's an experiential offer that (actually) changes the game.

Keep ReadingShow less

One Of Four: Converted Townhome Listed In Roncesvalles

One Of Four: Converted Townhome Listed In Roncesvalles

There are four units in The High Park Garage. This is one of them.

121 Fermanagh Avenue spent most of its life as a working commercial garage just of Roncesvalles Avenue.

Keep ReadingShow less

Concert Properties, Brookfield Form Joint Venture For $1B Canadian Industrial Portfolio

Concert Properties, Brookfield Form Joint Venture For $1B Canadian Industrial Portfolio

Unsplash

Concert Properties Ltd. has announced the formation of a joint venture with a Brookfield affiliate for a Canadian industrial portfolio valued at approximately C$1 billion.

The deal brings together eight properties totalling roughly 5.3 million sq. ft across Vancouver, Toronto, Calgary, and Ottawa. The mix includes single-tenant and multi-tenant industrial properties, all fully leased to a diverse roster of credit tenants and positioned near highway, airport, and rail infrastructure.

Keep ReadingShow less
Privacy PolicyAbout UsTerms of UseAdvertise with UsJobsContact UsRSS Feed
All rights reserved SiteMedia © 2026.