Humber/Ontario Real Estate Course 1 Exam Practice

Which document outlines the rules and regulations for condominium living?

1. Condominium declaration

2. Property deed

3. Lease agreement

4. Surveyor's report

The correct answer is: Condominium declaration

The condominium declaration is the primary document that outlines the rules and regulations governing a condominium community. It serves as the foundational legal framework for how the condominium operates, detailing aspects such as the rights and responsibilities of unit owners, the management structure, restrictions on property use, and the common expenses shared by residents. The property deed relates to the ownership of an individual unit but does not provide the comprehensive governance structure and community standards found in the condominium declaration. A lease agreement pertains specifically to rental arrangements and obligations between landlords and tenants, rather than the overarching rules for ownership in a condominium development. A surveyor's report typically involves the dimensions and boundaries of the property but does not encompass the regulations that guide community living within a condominium. Hence, the condominium declaration is the most appropriate choice for outlining the rules and regulations for condominium living.