Mortgage Jargon – Part 5
If you missed the previous article – Mortgage Jargon – Part 4
We will continue in our series of Mortgage jargon. As full time Canadian real estate investors, we need to utilize the following definitions as part of our everyday language.
This is a document that outlines the legal and financial state of a condominium corporation. When a condominium corporation is formed, and goes on for a period of years, they have certain legal outlines and an annual (if not monthly) financial statement that is created by its members. If you are getting into purchasing a condominium project, you must understand the state of it financially and legally by getting an Estopple certificate.