What Is a Form B Information Certificate in BC Stratas?

If you are buying a strata lot in British Columbia, or you own one and are selling, you will hear about the Form B. It is the strata corporation's snapshot of the lot's finances and the strata's own position on the date it is signed.

This article explains what the certificate contains, who can ask for it, what it costs, and what a buyer should look at before relying on it. Details can vary by strata, so a lawyer can confirm how this applies to your situation.

This article covers the law of British Columbia.

What a Form B is and who can ask for it

Under the Strata Property Act, within one week of a request by an owner, a purchaser or a person authorized by either, the strata corporation must give the requester an Information Certificate (Form B) in the prescribed form.

A purchaser is anyone with an agreement to buy a strata lot that has not yet been conveyed. The agreement does not have to be unconditional, so a buyer still in the subject-removal period can ask for a Form B.

What the certificate discloses

Form B discloses, as of the certificate date, the owner's monthly strata fees, amounts owing, approved future special levies, expected budget overruns, the contingency reserve fund balance, unfiled bylaw amendments, outstanding notices and work orders, parking and locker allocations, and a summary of insurance.

The rules, the current budget and the most recent depreciation report must be attached. A summary of the strata's insurance coverage became a required part of Form B on April 1, 2023, while the item on the number of rented strata lots was repealed as of November 24, 2022.

What buyers should check

• Fees owed, and whether anything is owing on the lot.
• Approved special levies and their due dates.
• Expected budget overruns.
• The contingency reserve fund balance, net of approved unspent expenditures.
• Unfiled or unvoted resolutions and bylaw amendments.
• Court, arbitration or tribunal proceedings and judgments.
• Outstanding work orders.
• The insurance summary and any electrical planning reports.

Read the attached depreciation report and budget alongside the certificate. Together they give a fuller picture of what repairs may be coming and how the strata plans to pay for them.

Cost, sections and reliance

Those fee figures are caps set by regulation, so a strata may charge less.

What to do next

• Request the Form B in writing as early as you can, and pay the fee so the strata cannot hold the certificate back.
• If the strata has sections, send a request to the section as well.
• If something looks unclear, such as a large special levy or a legal proceeding, ask a lawyer before you remove conditions.

Frequently asked questions